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Cultural Paradigms in Property Institutions
Zhang, Taisu
Zhang, Taisu
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Abstract
Do "cultural factors" substantively influence the creation and evolution of property institutions? For the past several decades, few legal scholars have answered affirmatively. Those inclined towards a law and economics methodology tend to see property institutions as the outcome of self-interested and utilitarian bargaining and therefore often question the analytical usefulness of "culture"-defined here as social norms, values, and beliefs that are embraced and internalized without empirical discovery or analytical justification -in understanding this process.