Six property rights bundles can be differentiated (Galik and Jagger, 2015; Schlager and Ostrom, 1992). They can be described as follows:
Access: right to enter a defined physical property
Withdrawal: right to obtain products from a resource
Management: right to use/transform the resource by making improvements
Alteration: right to change the set of services/goods provided by a resource
Exclusion: right to determine access rights and if right can be transferred to others
Alienation: right to sell/ lease some/all management, alteration and exclusion rights
See also: Land tenureLand tenure is an institution, i.e., rules invented by societies to regulate behaviour. Rules of tenure define how property rights to land are to be allocated within societies. They define how access is granted to rights to use, c... More
References
Galik, C.S. and P. Jagger, 2015. Bundles, Duties, and Rights: A Revised Framework for Analysis of Natural Resource Property Rights Regimes. Land Economics 91, 76-90. DOI: 10.3368/le.91.1.76
Schlager, E. and E. Ostrom, 1992. Property-Rights Regimes and Natural Resources: A Conceptual Analysis. Land Economics 68, 249-262. DOI: 10.2307/3146375
