The property rights theory of production networks
研究了在一般相互依赖和复杂产权下生产和贸易网络的形成,提出排他权赋予资产所有者本地垄断势力,并通过内生生产网络放大,分析了排他核心的非空条件及多源采购和短供应链倾向。
This paper investigates the formation of production and trading networks in economies with general interdependencies and complex property rights. We argue that the right to exclude, a core tenet of property, grants asset owners local monopoly power that is amplified by an economy's endogenous production network. Our analysis generalizes the exclusion core, a cooperative solution concept based on the right to exclude, to markets with production. We identify sufficient (and essentially necessary) conditions for the nonemptiness of the exclusion core. Multisourcing and a bias toward shorter supply chains emerge in exclusion‐core outcomes. As a methodological contribution, we generalize the top trading cycles algorithm to a production economy and we show that it identifies outcomes in an economy's exclusion core.