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Development of Property Rights in Hawaii: Ancient Hawaii to The Great Mahele

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Title: Development of Property Rights in Hawaii: Ancient Hawaii to The Great Mahele
Authors: Lau, Yvonne
Advisor: Ordway, Nicholas
Issue Date: 26 Sep 2014
Publisher: University of Hawaii at Manoa
Abstract: The changes in land ownership encountered by the Indians of the American southwest and those near Quebec, are the basis by which Howard Demsetz composes his theory of property rights. The major part of this paper will evaluate the applications of Demsetz's theory to the Hawaiian system of land ownership. Although the Hawaiians and American Indians share many similarities, the Hawaiians had a very different system of land ownership. Rather than offering an explanation of forces determining the price and number of units of a good to which property rights are attached, Howard Demsetz searches for elements that comprise an economic theory of property rights. Demsetz divides his article into three parts. First he discusses the concept and role of property rights in social systems. Second, Demsetz provides guidance to identify the emergence of property rights. Lastly, Demsetz gives some principles important to the grouping of property rights into specific bundles and the determination of the ownership structure associated with these bundles.
Pages/Duration: ii, 35 pages
Rights: All UHM Honors Projects are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission from the copyright owner.
Appears in Collections:Honors Projects for Finance

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