| The Journal of Real Estate Finance and Economics | |
| Volume 12, Issue 1, Article 7 (Abstract) | |
| Title: | The Property Rights Game: Discovering the Meaning of Private Property |
| Author: | Tom G. Geurts and Austin J. Jaffe |
| 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 and that 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. |
| Keywords: | Property rights, Educational game |