Benito Arruñada - Universitat Pompeu Fabra
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Training in Economics is useful for analytical positions but it can be detrimental for managers because it often interferes with innate social abilites.
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The Choice of Titling System in Land

 
Arruñada, Benito, and Nuno Garoupa (2005), “The Choice of Titling System in Land,” Journal of Law and Economics, 48(2), 709-27.
 
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  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 on 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. Its conclusions are highly relevant for public policy regarding property rights and economic development.  
 
 
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