We examine the efficiency, distributional, and environmental consequences of assigning spatial property rights to part of a spatially-connected natural resource, a situation which we refer to as partial enclosure of the commons. The model reflects on a large class of institutions and natural...

We propose a smooth multibidding mechanism for environments where a group of agents have to choose one out of several projects (possibly with the help of a social planner). Our proposal is related to the multibidding mechanism (Prez-Castrillo and Wettstein, 2002) but it is smoother in the sense...

This paper addresses the management of multispecies sheries, and suggests the use of restricted shing policies as an interesting option for unassessed sheries (as is the case within developing countries). Specically, we consider a predator-prey system where agents compete to harvest from two...

We propose a smooth multibidding mechanism for environments where a group of agents have to choose one out of several projects. Our proposal is related to the multibidding mechanism (Pérez-Castrillo and Wettstein, 2002) but it is “smoother” in the sense that small variations in an agentʼs...

We analyze the problem of optimal monopoly pricing in social networks where agents care about consumption or prices of their neighbors. We characterize the relation between optimal prices and consumersʼ centrality in the social network. This relation depends on the market structure (monopoly...

We examine the efficiency, distributional, and environmental consequences of assigning spatial property rights to part of a spatially-connected natural resource while the remainder is competed for by an open access fringe. We refer to this as partial enclosure of the commons. We obtain sharp...

Since existing regulatory schemes are often suboptimal, we compare the performance of several second-best control rules implemented on multi-species fisheries in terms of their effect on biodiversity and on effort transfer. We show how these effects depend on the economic returns and on the type...