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An economic analysis of riding to hounds: Pierson v Post Revisited

Dharmapala, Anurudha; Pitchford, Rohan

Description

Pierson v. Post, an 1805 New York case, concerns the ownership of a dead fox; Post had organized a fox hunt and was pursuing a fox, when Pierson appeared and killed the animal. The rule established by the court in this case (awarding ownership to Pierson) has proven to be highly influential. This article undertakes an economic analysis of the issues raised by the case. The incentives for the killing of foxes created by the court's rule and the alternative rule, giving property rights to Post,...[Show more]

dc.contributor.authorDharmapala, Anurudha
dc.contributor.authorPitchford, Rohan
dc.date.accessioned2015-12-13T23:24:41Z
dc.identifier.issn8756-6222
dc.identifier.urihttp://hdl.handle.net/1885/92332
dc.description.abstractPierson v. Post, an 1805 New York case, concerns the ownership of a dead fox; Post had organized a fox hunt and was pursuing a fox, when Pierson appeared and killed the animal. The rule established by the court in this case (awarding ownership to Pierson) has proven to be highly influential. This article undertakes an economic analysis of the issues raised by the case. The incentives for the killing of foxes created by the court's rule and the alternative rule, giving property rights to Post, advocated in a vigorous dissent by Justice Livingston are analyzed. The consequences for social welfare are derived under various circumstances; the formal approach leads to a number of new insights. Finally, the implications of this analysis for contemporary issues in property law are explored through an application to the phenomenon of "cybersquatting" (involving the ownership of Internet domain names).
dc.publisherOxford University Press
dc.sourceJournal of Law, Economics and Organization
dc.titleAn economic analysis of riding to hounds: Pierson v Post Revisited
dc.typeJournal article
local.description.notesImported from ARIES
local.description.refereedYes
local.identifier.citationvolume18
dc.date.issued2002
local.identifier.absfor140299 - Applied Economics not elsewhere classified
local.identifier.absfor180124 - Property Law (excl. Intellectual Property Law)
local.identifier.ariespublicationMigratedxPub23394
local.type.statusPublished Version
local.contributor.affiliationDharmapala, Anurudha, College of Business and Economics, ANU
local.contributor.affiliationPitchford, Rohan, College of Asia and the Pacific, ANU
local.description.embargo2037-12-31
local.bibliographicCitation.issue1
local.bibliographicCitation.startpage39
local.bibliographicCitation.lastpage66
dc.date.updated2015-12-12T09:21:28Z
local.identifier.scopusID2-s2.0-0036255853
CollectionsANU Research Publications

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