Common Property Economics

A General Theory and Land Use Applications

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Hardcover | 27 January 1992

At a Glance

Hardcover
272 Pages

Dimensions(cm)
22.86 x 15.24 x 1.91

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Common property economics defines and clarifies the theoretical distinction between open access and common property and empirically tests the adequacy of resource allocation under common property and empirically tests the property in comparison with private property. Group use of natural resources has often received the blame for overexploitation and mismanagement, whether of fisheries, grazing land, oil and gas pools, groundwater, or wildlife. In this book two types of group use are identified: open access and utilization without any controls on extraction rates, a situation in which resource overexploitation often occurs. In contrast, common property refers to the situation where the group controls the access to and extraction rates of the resource. The common property solutions differ from those associated with open access. The nonoptimality of open access is demonstrated with graphic, game theoretic, and mathematical models. The necessary and sufficient conditions for common property to overcome the difficulties of open access are examined. Stevenson discusses historical examples, the basis in legal concepts, the contrast with public goods, the formation, and the stability of common property. In a detailed, empirical study of alpine grazing in Switzerland, the author compares the performance of common property with that of private property. He also notes the similarity in structure between the Swiss grazing commons and the English open field system.

Industry Reviews

"...a fine addition to the property rights literature. It is well written, and it provides a clear distinction between the concepts of open access and common property." Journal of Comparative Economics

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Non-Fiction Engineering & Technology Agriculture & Farming Animal Husbandry Law Laws of Specific Jurisdictions Property Law Land & Real Estate Law Earth Sciences, Geography, Environment, Planning The Environment Environmental Management Accounting & Finance

Finance Property & Real Estate Economics Economic History Economic Theory & Philosophy Environmental Economics

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Paperback

Published: 6th October 2005

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List of tables and figures
Preface
What is common propertyn++
Open access theory
Common property
The Swiss grazing commons
Comparisons with the English open field system
An econometric comparison of commons and private grazing
The structure and performance of common property: conclusions
References
Index
Table of Contents provided by Publisher. All Rights Reserved.

Common Property Economics

A General Theory and Land Use Applications

At a Glance

Hardcover

Industry Reviews

Shipping

How to return your order

Defective items

You Can Find This Book In

Other Editions and Formats

Paperback

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