How is credibility related to conflict?

[C]redibility is undoubtedly related to distributional conflict, it does not posit that a ‘fully credible institution’ – if that ever exists – would also be free from conflict. Instead, credibility assumes that distributional conflict is part and parcel of any property rights arrangement.” For this reason: “[O]ne might argue that a steady status is never reached.” See P. Ho, “The ‘Credibility Thesis’ and its Application to Property Rights: (In)secure Land Tenure and Social Welfare in China“, Land Use Policy, 2014, 40, Sept., p. 16.

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