Managing the global commons
When should internationally shared resources be subdivided and property and management rights to parts of the resource be distributed among nation states? Subdivision leads to inefficient exploitation and to an arbitrary division of benefits under three conditions: when property rights cannot be economically enforced; when the size and the value of the resource are unknown; and when exploitation involves external economies. The efficient use of such common property resources requires private or public regulation. Voluntary private regulation is likely to be effective only when few users are involved. In other cases, public regulation is called for. Some attributes of an intergovernmental organization designed to achieve efficient, equitable, and stable exploitation are presented. Current proposals for managing ocean resources, the orbit-spectrum resource, and Antarctica are considered.
Year of publication: |
1982
|
---|---|
Authors: | Wijkman, Per Magnus |
Published in: |
International Organization. - Cambridge University Press. - Vol. 36.1982, 03, p. 511-536
|
Publisher: |
Cambridge University Press |
Description of contents: | Abstract [journals.cambridge.org] |
Saved in:
Saved in favorites
Similar items by person
-
Prosperity through trade and structural reform : Festschrift in honour of Per Magnus Wijkman
Ems, Emil, (2017)
-
Second-best solution at Stockholm
Wijkman, Per Magnus, (1972)
-
GATT and the new economic order
Wijkman, Per Magnus, (1975)
- More ...