ECONOMIC EFFECTIVENESS IN TERMS OF THE ECONOMIC THEORY OF PROPERTY RIGHTS - SELECTED ISSUES

Abstract

This article shows some issues of an institutional, economic theory of property rights. The principles and the basic concepts of this theory are presented in the paper. The fragmentation of absolute property rights, the implications of the Coase theorem and the private and public property issues are refined. All analysed questions are described regarding an influence of the institutional structure of property rights on the efficiency of the chosen economic processes.