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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/10013137614
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Non-Parametric Tests of the Tragedy of the Commons
Banzhaf, H. Spencer - 2019
-parametric tests of behavior consistent with the tragedy of the commons model. Our approach derives testable implications of such … to panel data of Norwegian fishers, we find evidence rejecting the tragedy of the commons model. Significantly, we find … commons.Institutional subscribers to the NBER working paper series, and residents of developing countries may download this …
Persistent link: https://www.econbiz.de/10012860448
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Public Policies Against Global Warming
Sinn, Hans-Werner - 2007
Judged by the principle of intertemporal Pareto optimality, insecure property rights and the greenhouse effect both imply overly rapid extraction of fossil carbon resources. A gradual expansion of demand-reducing public policies -- such as increasing ad-valorem taxes on carbon consumption or...
Persistent link: https://www.econbiz.de/10012775908
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Endogenous Property Rights
Diermeier, Daniel - 2013
It is often argued that additional checks and balances provide economic agents with better protection from expropriation of their wealth or productive capital. We demonstrate that in a dynamic political economy model this intuition may be flawed. Surprisingly, increasing the number of veto...
Persistent link: https://www.econbiz.de/10013071791
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Property Rights to Frontier Land and Minerals : Us Exceptionalism
Libecap, Gary D. - 2018
Property rights are the most fundamental institution in any society. They determine who has decision-making authority over assets and who bears the costs and benefits of those decisions. They assign ownership, wealth, political influence, and social standing. They make markets possible; define...
Persistent link: https://www.econbiz.de/10012920373
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Securing Property Rights
Glaeser, Edward L. - 2016
A central challenge in securing property rights is the subversion of justice through legal skill, bribery, or physical force by the strong—the state or its powerful citizens—against the weak. We present evidence that undue influence on courts is a common concern in many countries, especially...
Persistent link: https://www.econbiz.de/10012982019
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Idea Diffusion and Property Rights
Jovanovic, Boyan; Wang, Zhu - 2022
We study the innovation and diffusion of technology at the industry level. We derive the full dynamic paths of an industry's evolution, from birth to its maturity, and we characterize the impact of diffusion on the incentive to innovate. The model implies that protection of innovators should be...
Persistent link: https://www.econbiz.de/10014091108
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Measuring Property Rights Institutions
Djankov, Simeon; Glaeser, Edward L.; Perotti, Valeria; … - 2022
How do the different elements in the standard bundle of property rights – such as the right of possession or the right of transfer – differentially impact outcomes, such as urban development? This paper incorporates insecure property rights into a standard model of urban land prices and...
Persistent link: https://www.econbiz.de/10013404197
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The Value of Secure Property Rights : Evidence from Global Fisheries
Grainger, Corbett A. - 2011
Property rights are commonly touted as a solution to common pool resource problems. But in practice the security of these property rights varies substantially owing to differences in design. In fisheries, the design of individual transferable quotas (ITQs) varies widely; the consequences of...
Persistent link: https://www.econbiz.de/10013125578
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How Transaction Costs Obstruct Collective Action : Evidence from California's Groundwater
Ayres, Andrew - 2017
Collective action to remedy the losses of open access to common-pool resources often is late and incomplete, extending rent dissipation. Examples include persistent over-exploitation of oil fields and ocean fisheries, despite general agreement that production constraints are needed. Transaction...
Persistent link: https://www.econbiz.de/10012956925