The paper investigates the conditions under which consumer ownership should be preferred to investor ownership in economies with externalities. On making their choices investor-owners take into account producer surplus only, while consumer-owners take into account both producer and consumer...

The implementation of projects producing external effects is often a source of disagreement and conflict between hosting and non-hosting communities. The paper focuses on the impact of participatory ownership on conflict resolution and social welfare in the presence of asymmetric information and...