The Choice of Titling System in Land
研究了在个人理性选择下，社会最优的土地产权登记制度是登记制还是记录制，分析了初始登记成本与预期没收成本降低之间的权衡，并讨论了其对产权保障、土地改良和交易的影响。
This paper analyzes the choice of the socially optimal titling system assuming rational individual choices about recording, assurance, and registration decisions. It focuses on the enforcement of property rights to land under private titling and the two existing public titling systems, recording and registration. When the reduction in the expected costs of forfeiture balances the higher cost of initial registration, a registration system is more efficient than a recording system. Implications for title assurance, land improvements, and transactions are also considered.