Land inheritance rules: theory and cross-cultural analysis

This paper develops a general theory of land inheritance rules that distinguishes between two classes of rules: those allowing a testator discretion in disposing of his land (e.g., a best-qualified rule) and those constraining his choice (e.g., primogeniture). The primary benefit of the latter is to...

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Bibliographic Details
Published in:Journal of economic behavior & organization 2005, Vol.56 (1), p.77-102
Main Authors: Baker, Matthew, Miceli, Thomas J.
Format: Article
Language:English
Subjects:
Cross cultural studies
Cross-cultural analysis
Economic behaviour
Economic theory
Inheritance
Inheritances
Land
Land inheritance
Land use
Organization theory
Primogeniture
Property rights
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Summary:This paper develops a general theory of land inheritance rules that distinguishes between two classes of rules: those allowing a testator discretion in disposing of his land (e.g., a best-qualified rule) and those constraining his choice (e.g., primogeniture). The primary benefit of the latter is to prevent rent seeking by heirs, but the cost is that the testator cannot use information about the relative abilities of his heirs to manage the land. We also account for the impact of scale economies in land use, and discuss the impact of the presence of a land market on the form of the inheritance rule. We conclude by offering some empirical tests of the model using a cross-cultural sample of societies.
ISSN:0167-2681
1879-1751
DOI:10.1016/j.jebo.2003.09.004