The property rights game: Discovering the meaning of private property |
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| Authors: | Tom G. Geurts Austin J. Jaffe |
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| Affiliation: | (1) The Smeal College of Business Administration, The Pennsylvania State University, 16802 University Park, PA, USA;(2) The Smeal College of Business Administration, The Pennsylvania State University, 16802 University Park, PA, USA |
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| Abstract: | In this paper we discuss the results of an educational game we have developed. This game deals with the acquisition, use, and transfer of private property rights in land and shows participants the importance of property rights in market economies. While our findings are not scientific, they do show that production in a society with solely communal property collapses while production in a society with private property flourishes. We hope that these results encourage others to use this exercise as an educational experience for students. |
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| Keywords: | Property rights educational game |
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