产权界定【外文翻译】

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1、外文文献翻译译文原文：DefiningPropertyRightsGlobalization,advancesininformationtechnology,andincreasingInternetusagearecreatingdevelopmentsinpropertyrightsissuesthatneedtobeaddressedbynotonlyresearchers,butalsomanagersandpublicpolicymakers.Thisarticlepresentsath

2、eoreticalframeworkthatexaminesthedeterminantsofthelevelofdefinitionofpropertyrightsoverresources.Propertyrightsoveranyresourcearesubjecttooptimizationandaredefinedtotheextentthatthebenefitsofdefinitionexceedthecostsofdefinition.Therearefivemajorcost-b

3、enefitcomponentsthatcanbeusedtopredictthelevelofdefinitionofpropertyrightsoveraresource:①capturecostsandrentdissipationcreatedbynon-exclusivity;②exchangeandpolicingcosts;③costsofreducedinvestmentcreatedbynon-exclusivity(includesreallocationandvaluatio

4、ncosts);④exchangevalueofresource;⑤socialcostsofexclusivity.Resourcespecificfactorsinfluencethemagnitudeofeachofthesefivecomponents,affectingthefinallevelofdefinitionofpropertyrightsoveraresource.PropertyRightsAccordingtoLibecap,propertyrightsaresocial

5、institutionsthatdefineordelimittherangeofprivilegesthataregrantedtoindividuals(orentities)regardingspecificassets.Propertyrightsinstitutionscanrangefromformalarrangements(e.g.,constitutionalprovisions,statutes,andjudicialrulings)toinformalnormsandcust

6、omsregardingtheallocationanduseofassets.Theseinstitutionsassignownershiptovaluableassetsanddesignatewhobearstherewardsandcostsofresourceuse,andthereforetheyhaveasignificantimpactoneconomicbehaviorandperformance.Traditionally,economicsliteraturehasdiff

7、erentiatedbetweentwotypesofpropertyrights:economicpropertyrightsandlegalpropertyrights.Accordingto11Barzel,economicpropertyrightsinvolveanindividual’sabilitytoconsumeagoodorservice.Legalrights,ontheotherhand,arethosethatarerecognizedandenforcedbythego

8、vernment.Theyenhanceeconomicrightsbymakingthird-partyadjudicationpossible;however,theyarenotnecessaryorevensufficientfortheexistenceofeconomicrights,sinceeconomicrightscanbebaseduponinformalinstitutions.Aninterestingaspectofpropertyrightssyste