Call Boomerang Books 1300 36 33 32

Common property economics defines and clarifies the theoretical distinction between open access and common property and empirically tests the adequacy of resource allocation under common property and empirically tests the property in comparison with private property. Group use of natural resources has often received the blame for overexploitation and mismanagement, whether of fisheries, grazing land, oil and gas pools, groundwater, or wildlife. In this book two types of group use are identified: open access and utilization without any controls on extraction rates, a situation in which resource overexploitation often occurs. In contrast, common property refers to the situation where the group controls the access to and extraction rates of the resource. The common property solutions differ from those associated with open access. The nonoptimality of open access is demonstrated with graphic, game theoretic, and mathematical models. The necessary and sufficient conditions for common property to overcome the difficulties of open access are examined. Stevenson discusses historical examples, the basis in legal concepts, the contrast with public goods, the formation, and the stability of common property. In a detailed, empirical study of alpine grazing in Switzerland, the author compares the performance of common property with that of private property. He also notes the similarity in structure between the Swiss grazing commons and the English open field system.

Buy Common Property Economics book by Glenn G. Stevenson from Australia's Online Bookstore, Boomerang Books.

Book Details

ISBN: 9780521020800
ISBN-10: 0521020808
Format: Paperback
(228mm x 152mm x 16mm)
Pages: 272
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 6-Oct-2005
Country of Publication: United Kingdom

Other Editions

Reviews

» Have you read this book? We'd like to know what you think about it - write a review about Common Property Economics book by Glenn G. Stevenson and you'll earn 50c in Boomerang Bucks loyalty dollars (you must be a Boomerang Books Account Holder - it's free to sign up and there are great benefits!)

Write Review


Books By Author Glenn G. Stevenson

Common Property Economics by Glenn G. Stevenson

Common Property Economics

Hardback, August 1991
$211.50