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《Reform》 2007-12
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Division,Truncation Levels of Property Rights and Allocation Effects

Lin Yan Zhang Zhonggen  
The boundary of property rights is determined by the marginal revenue and marginal cost of division and implementing of property rights.Some rights is abandoned in public domain because their marginal costs is higher than the marginal revenue,and it does not mean the Demsetz's truncation.If the truncated rights are not guaranteed to another subject who possesses action abilities,the rents tend to dissipate and inefficiency of resourses allocation can not be elimilated.Besides resourses allocation effests,truncation and rearrangement of rights impact income distribution too.The farmland expropriation system causes truncation of property rights of farmers and their collectivities, and results in over-non-agriculturalization of land and excessive urban-rural income differential.
【CateGory Index】: F014.1
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