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Property Rights, Regulatory Capture, and Exploitation of Natural Resources
Costello, Christopher - 2015
We study how the strength of property rights to individual extractive firms affects a regulator's choice over exploitation rates for a natural resource. The regulator is modeled as an intermediary between current and future resource harvesters, rather than between producers and consumers, as in...
Persistent link: https://www.econbiz.de/10012457807
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Overcoming the common pool problem through voluntary cooperation : the rise and fall of a fishery cooperative
Deacon, Robert T. - 2010
overall catch quota to a voluntary cooperative, with the remainder exploited as a commons by those choosing to fish …
Persistent link: https://www.econbiz.de/10012462317
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Trade, Competitive Exclusion, and the Slow-Motion Extinction of the Southern Resident Killer Whales
Taylor, Michael Scott - National Bureau of Economic Research - 2021
Orcinus Orca is the world's largest predator, and simultaneously a significant tourist asset and cultural icon for much of the Pacific Northwest. In the past two decades, the Southern Resident Killer whales (SRKW) have declined by more than 25 percent, and this population appears on a...
Persistent link: https://www.econbiz.de/10012599304
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Credit Markets, Property Rights, and the Commons
Noack, Frederik; Costello, Christopher J. - National Bureau of Economic Research - 2022
commons. Using a dynamic model of competitive resource extraction, we show that improving property right security …
Persistent link: https://www.econbiz.de/10013172188
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The Problem of the Commons : Still Unsettled After 100 Years
Stavins, Robert N. - 2010
The problem of the commons is more important to our lives and thus more central to economics than a century ago when … the commons. Within the realm of natural resources, there are special challenges associated with renewable resources …. Critical commons problems are also associated with environmental quality. A key contribution of economics has been the …
Persistent link: https://www.econbiz.de/10012462253
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The Valuation of Fisheries Rights : A Real Options Approach
Pizarro, Jose - 2018
This article develops and implements a Real Option approach to value renewable natural resources in the case of Marine Fisheries. The model includes two sources of uncertainty: the resource biomass and the price of fish, and it can be used by fisheries to optimally adapt their harvesting...
Persistent link: https://www.econbiz.de/10012480792
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Rationing the Commons
Ryan, Nicholas - 2020
Common resources may be managed with inefficient policies for the sake of equity. We study how rationing the commons …
Persistent link: https://www.econbiz.de/10012481328
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Trade, Tragedy, and the Commons
Copeland, Brian R. - 2004
We develop a theory of resource management where the degree to which countries escape the tragedy of the commons is … at any world price, have zero rents and suffer from the tragedy of the commons. Ostrom economies exhibit de facto open …
Persistent link: https://www.econbiz.de/10012467853
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State Versus Private Ownership
Shleifer, Andrei - 1998
Private ownership should generally be preferred to public ownership when the incentives to innovate and to contain costs must be strong. In essence, this is the case for capitalism over socialism, explaining the dynamic vitality' of free enterprise. The great economists of the 1930s and 1940s...
Persistent link: https://www.econbiz.de/10012472146
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Elephants
Kremer, Michael - 1996
Existing models of open-access resources are applicable to non-storable resources, such as fish. Many open-access resources, however, are used to produce storable goods. Elephants, rhinos, and tigers are three prominent examples. Anticipated future scarcity of these resources will increase...
Persistent link: https://www.econbiz.de/10012473168