Yoram Barzel Office Hours: Tuesday 4:30-5:30

Office: Savery 324 Office Phone: (206) 543-2510 yoramb@u.washington.edu

Course Description Property rights as an economic concept. Delineation of rights as a subject of optimization. Formation of contracts to maximize the value of personal property. Formation of organizations to induce efficient use of resources and minimize losses to public domain. Prerequisite: ECON 300: recommended: two 400-level microeconomics classes. Files for Download Ch. 1 Ch. 2 Ch. 3 Ch. 4 Ch. 5 Ch. 6 Ch. 7 Ch. 8 Ch. 9 Ch. 10 Ch. 11 Ch. 12 Transaction Costs and Contract Choice Coase: Nature of the Firm Coase: Social Cost Alchian & Demsetz: Production Umbeck: Might Makes Right Demsetz: Property Rights Barzel and Sass: Allocation by Voting Lueck: Wildlife Law Allen: Homesteading Price Control Paper 403 Final 2007 Waiting Paper 403 Midterm 2007