In: Operations Management
(a) Explain why property rights are best understood as a "Bundle of Sticks." (b) Provide and explain three examples. (4 points) At least one paragraph.Please use and cite sources.
a) In first year law course of US, the entity property is explained as a “bundle of sticks”. Bundle of sticks represent the bundle of different kinds of entitlements regulating the property law. The analogy is with bundle of sticks- where each stick represents a right or an entitlement. Full ownership of a property cant be established easily. It has to deal with the rights and entitlements of multiple stakeholders. Hence, property ownership is a bundle of complexities, a bundle of rights and entitlements or metaphorically “a bundle of sticks”.
b) Bundle of rights includes the right of use or control, possession, benefit, disposition, exclusion or enjoyment.
http://www.bu.edu/law/workingpapers-archive/documents/dirobilanta061814.pdf
https://thugout.wordpress.com/2009/09/23/property-rights-as-a-bundle-of-sticks/