Evoluation Research Of Property Rights Definition Theory Based On New Institutional Economics

This article basing the concept of the property right and trade cost makes research in details in the three parts of right limits theory: the Coase theorem, the incomplete property right limits and national in property right limits theories.In the traditional neoclassic economic, the property right is neglected completely in the economical movement function. What they interested in is not internal property right system arrangement but the element of production disposition and sale of the products. The research of the property right limits importance, the process and the national function in property right limits can deepen understanding to the property rights theory. Moreover, the main question in state-owned enterprise reform is the property right limits. The research in property right limits theory also has the vital significance to our country's state-owned enterprise reform.The new institutional economists, who take Coase as representative, think that: clearing the property right limits can enhance the economic efficiency. Yet the Coase theorem does not aim at the property right limits itself, cannot explain the process of the property right limits and incomplete property right limits.Bazel think that it is impossible to make the property right limits completely clearly in the trade cost world, on the base that the property right limits have the relativity and the gradation. The part of the attribute value which has not been limited will enter the "public domain". The property right limits process is the process of the comparison of transaction expense and the income. The property right will be limited when the income is bigger than t the transaction expense. Along with technical and the knowledge change, part of the value of the properties will be enhanced and yet the attribute values which have been limited have the possibility to dissipate. As so, a new turn of property right limits appears.The incomplete property right theory mainly analyzes the personal property right decision under the non-national condition. Even if considering the country, it is merely one kind of"neutrality"influence. It cannot affect in the property right structure and individual decision-making anticipated and so on. North think that the country plays the vital role in the property right limits. But the country also has the paradox of pursuing its own rent maximization and providing effective property right system. Therefore, North think that the country must provide the fair security system...