From Goods, Property Rights to Behavioral Space: The Significance, Limitations, and Transcendence of Institutional and Contractual Analysis

Author: Li Jian
Publisher:
Publish Date: 2006-03-01
Features: This book clarifies the concepts and issues related to goods, rights, obligations, property rights, and behavioral space sequentially, striving to find more universal and rigorous economic analytical tools. It defines a good as "a behavioral space voluntarily proposed by individuals or organizational entities for trade, and technically also available for trade." The book clarifies and defines the numerous attributes of behavioral space, as well as a more realistic complete utility function based on behavioral space as the variable. The analysis concludes that broad behavior directly determines the utility level of the subject; any behavior must be supported by a corresponding behavioral space to occur and is strictly constrained by the latter; management, in essence, is the subject's management of the subjective probability distribution shape of each dimension of the behavioral space; and any individual or organization engages in a large number of actions that they believe are behavioral space management behaviors. The book provides an in-depth clarification of issues such as the nature of the enterprise, its boundaries, its emergence and reasons for existence, relevant institutions and contracts, as well as "enterprise ownership" and "control rights." The book also conducts a comparative in-depth case-based analysis of the typology of institutional change and the general dynamic mechanisms of institutional change and institutional innovation. The numerous foundational research findings in this book are also applicable to the analysis and research of individuals, families, enterprises, clubs, governments, markets, and various social groups.
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