Editing Public property (section)

== Differences from private property ==
American economist [[Armen Alchian|Armen A. Alchian]] explored what distinguishes public property from private property, concluding that a unique difference lies in the limitations put on its [[Alienability of rights|alienability]].<ref>{{cite journal|last=Alchian|first=Armen A.|author-link=Armen Alchian|title=Some Economics of Property Rights|journal=Il Politico|volume=30|number=4|date=December 1965|pages=816–829|jstor=43206327|issn=0032-325X}}</ref> That is, a crucial feature of public property lies in the inability of their owners to sell or grant them to others. According to Alchian, private property is that which can be transferred at the discretion of its owners, whilst public property is that which cannot.

Consequently, because of the absence of exchange in much of what is public property and thereby the absence of market prices reflecting its [[Value (ethics and social sciences)|value]], it is difficult for a government to appraise its holdings. This can lead to problems with [[Economic calculation problem|economic calculation]].

Both rights with respect to public and private property are in part determined by governments. The owner of a [[private property]] can control it at own discretion, whilst the state reserves the right to charge taxes and [[Nationalization|nationalize]] it, or temporarily use it. The difference between public and private property lies in their alienability.

Most public property is government-provided and not charged for separately to users, but open to the public. However, it is incorrect to say that all public property can be used freely by the public. Many public goods are provided only to subsets of the population, such as care for the elderly and playgrounds for children. That is, the 'public' may vary and does not in fact determine its public or private nature.
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