The tragedy of the anticommons -- Welcome to the lexicon -- Where are the cures? -- You can't hear me now -- Block parties, fan teams and banana republics -- Empty Moscow storefronts -- The world is mine oyster -- A solutions toolkit

We develop two models of economic growth with exhaustible natural resources and consumers heterogeneous in time preferences. The first model assumes private ownership of natural resources. In the second model, natural resources are commonly owned and the resource extraction rate is chosen by...