The Demarcation of Land and the Role of Coordinating Property Institutions
Bibliographic Data
| ID | 10173272 |
|---|---|
| Authors | Gary D Libecap (University of Cambridge), Dean Lueck (University of Arizona) |
| Year | 2011 |
| Volume | 119 |
| Issue | 3 |
| Pages | 426-467 |
| Publication date | 2011-06-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/660842 |
| OpenAlex | W2209600992 |
| Language | EN |
| Citations received | 45 |
| References cited | 27 |
We use a natural experiment in nineteenth-century Ohio to analyze the economic effects of two dominant land demarcation regimes, metes and bounds (MB) and the rectangular system (RS). MB is decentralized with plot shapes, alignment, and sizes defined individually; RS is a centralized grid of uniform square plots that does not vary with topography. We find large initial net benefits in land values from the RS and also that these effects persist into the twenty-first century. These findings reveal the importance of transaction costs and networks in affecting property rights, land values, markets, and economic growth
Business · Database · Database transaction · Economics · Geodesy · Geography · Geometry · Grid · Microeconomics · Natural resource economics · Net (polyhedron · Plot (graphics · Property (philosophy · Property rights · Property value · Square (algebra · Statistics · Transaction cost · Computer Science · Finance · Historical Economic and Social Studies · Housing Market and Economics · Land Rights and Reforms · Mathematics · Philosophy
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| Unique citing works | 45 |
|---|---|
| Citations per year | 3 |
| Citation span | 2011 - 2026 (16) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 45 |