1. Trade, tragedy, and the commons
- Author
-
Copeland, Brian R. and Taylor, M. Scott
- Subjects
Economic development -- Models ,Conservation of natural resources -- Economic aspects ,Conservation of natural resources -- Models ,Right of property -- Economic aspects ,Right of property -- Models ,Business ,Economics - Abstract
A theory of resource management where the enforcement of property rights is endogenously determined is developed. The model explains heterogeneity in the effectiveness of resource management and that a change in management regime can be caused by changes in prices, population, or technology.
- Published
- 2009