Common Property Economics - 9780521384414

Common Property EconomicsA General Theory and Land Use Applications\nAuthor(s): Glenn G. Stevenson\nFormat: Hardback\nPublisher: Cambridge University Press, United Kingdom\nImprint: Cambridge University Press\nISBN-13: 9780521384414, 978-0521384414\nSynopsis\nCommon 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.