Most research on common property has focused upon the implications of property rights for the maximization of social product. Paul Samuelson and Martin Weitzman looked at distribution and concluded that converting common property will reduce the product received by former users of common...

In this essay I claim that productive markets need not necessarily involve clearly defined and enforced property rights, upon which a price system can be used to allocate resources. I shall pursue this thought by an examination of the mechanisms that facilitate the exchange of economic ideas,...

Open source describes practices in production and development that promote access to the end product's source materials, spreading development burden amongst individuals and companies. This model has resulted in a large and efficient ecosystem and unheralded software innovation, freely available...

Internet growth has allowed unprecedented widespread access to cultural creation including music and films, to knowledge, and to a wide range of consumer information. At the same time, it has become a huge source of business opportunities. Along with great benefits that this access to the...

Why do money and markets crowd out cooperative relations? This paper characterizes the effects of intertemporal preferences, money, and markets on players' ability to cooperate in material-payoff supergames. Players' aversion to intertemporal substitution facilitates cooperation by decreasing...