Ownership and the Sharing Economy
Sharing can save a ton of money. We share apartments, cars, and office space with family, friends, and coworkers. We share roads, radio waves, and national defense with fellow citizens.
In cases like these, sharing leads to huge economic gain. So why don’t we share more stuff?
The problem, and its solution, has to do with ownership.
Ownership is comprised of a bundle of property rights
Broadly, the various types of property rights include (i) the right to use a good, (ii) the right to earn...