A simple, ecologically rational rule for settling found property disputes

B-Tier
Journal: Journal of Economic Behavior and Organization
Year: 2020
Volume: 178
Issue: C
Pages: 660-671

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Who has property in a found item X, which is contained in Y? The finder of X or the person who has property in Y? The common law says it depends. It depends upon whether the owner of Y knew about X, or whether X was lost or mislaid, or how small the weight of X is relative to Y (as compared to its value), or whether the finder was an employee of the owner of Y, to name just a few. Wilson (2020) hypothesizes that humans universally cognize property as being contained in a thing. A testable implication of the hypothesis reveals a simpler, clearer rule for settling found property disputes in the common law: if A has property in Y and X is in Y, then A has property in X, even if B finds X. Using a 2 × 2 design, I report the results of a three-dimensional virtual world experiment to test how incentivized panels of participants award a found item to one of two actual parties who have an all-or-nothing financial stake in the panel's decision. The results of the experiment strongly support the hypothesis, even, unexpectedly, under counterfactual conditions.

Technical Details

RePEc Handle
repec:eee:jeborg:v:178:y:2020:i:c:p:660-671
Journal Field
Theory
Author Count
1
Added to Database
2026-01-29