The relative advantages of private property and common property for the efficiency, equity, and sustainability of natural resource use patterns have long been debated in the legal and economics literatures. The debate has been clouded by a troika of confusions that relate to the difference...

The relative advantages of private property and common property for the efficiency, equity, and sustainability of natural resource use patterns have long been debated in the legal and economics literatures. The debate has been clouded by a troika of confusions that relate to the difference...

Property theory has not kept pace with the growth of empirical and historical information on property systems. This paper, prepared for a Lincoln Institute conference on "The Evolution of Property Systems and Rights Related to Land and Natural Resources": (a) introduces conventional theories of...