Property Rights Arrangement and Resource Collocate:Property Rights

Property rights theory focuses on how to reduce or eliminate the costs of market by defining the property rights in order to improve economic efficiency and allocation of resources,furthermore,to increase the social economic welfare.Property rights refer to the economic relationship among people based on the property.One of the basic characteristic of property rights is exclusive property.When evaluating the efficiency of property rights institutions,either whether they are suitable to the development of productivity,or the transaction costs should be considered.