In this latest journal article, authors Rajeev J. Sawant and Barclay E. James discuss property rights theory (PRT) and how when asset ownership is efficient for a transacting party, PRT can ignore financial resource constraints preventing the party from purchasing it. The authors distinguish between incomplete contracts arising from weak property rights institutions and weak contracting institutions.
Authors and affiliations:
- Rajeev J. Sawant, Florida Atlantic University, USA
- Barclay E. James, St. Mary’s University, USA
Read the full article here: https://doi.org/10.1111/joms.70173
