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Rights and rents in local commons

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  • Sjur Didrik Flåm

    (University of Bergen, Norway)

Abstract

Motivated by management problems in national fisheries, we examine management of renewable resources in local or regional commons. This paper suggests that property rights, or lack thereof, be replaced by well-defined user rights. It shows that the use of commons can be conditioned, paid for, or valued, via market mechanisms. To that end, direct deals and double auctions are expedient. Either institution can distribute, restore and secure resource rent. Either can also focalize debates as to which assignments, regulations or taxation of rights might be fair or legitimate.

Suggested Citation

  • Sjur Didrik Flåm, 2020. "Rights and rents in local commons," The Journal of Mechanism and Institution Design, Society for the Promotion of Mechanism and Institution Design, University of York, vol. 5(1), pages 119-140, December.
    • Handle: RePEc:jmi:articl:jmi-v5i1a5
    DOI: 10.22574/jmid.2020.12.005
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    References listed on IDEAS

    as
    1. Sjur Didrik Flåm & Kjetil Gramstad, 2012. "Direct Exchange In Linear Economies," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 14(04), pages 1-18.
    2. Moxnes, Erling, 2012. "Individual transferable quotas versus auctioned seasonal quotas: An experimental investigation," Marine Policy, Elsevier, vol. 36(2), pages 339-349.
    3. Dorfman, Robert, 1989. "Thomas Robert Malthus and David Ricardo," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 153-164, Summer.
    4. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Palgrave Macmillan Books, in: Chennat Gopalakrishnan (ed.), Classic Papers in Natural Resource Economics, chapter 9, pages 178-203, Palgrave Macmillan.
    5. Libecap, Gary D., 1986. "Property rights in economic history: Implications for research," Explorations in Economic History, Elsevier, vol. 23(3), pages 227-252, July.
    6. , Prabal & , & ,, 2014. "Strategy-proofness and Pareto-efficiency in quasi-linear exchange economies," Theoretical Economics, Econometric Society, vol. 9(2), May.
    7. Neher,Philip A., 1990. "Natural Resource Economics," Cambridge Books, Cambridge University Press, number 9780521311748, September.
    8. Flåm, Sjur Didrik & Gramstad, Kjetil, 2012. "Direct Exchange in Linear Economies," Working Papers in Economics 05/12, University of Bergen, Department of Economics.
    9. Trond Bjorndal & Jon M. Conrad, 1987. "The Dynamics of an Open Access Fishery," Canadian Journal of Economics, Canadian Economics Association, vol. 20(1), pages 74-85, February.
    10. Martin J. Osborne & Ariel Rubinstein, 1994. "A Course in Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650401, April.
    11. Geoffrey M. Hodgson, 2000. "What Is the Essence of Institutional Economics?," Journal of Economic Issues, Taylor & Francis Journals, vol. 34(2), pages 317-329, June.
    12. Clark, Colin W & Clarke, Frank H & Munro, Gordon R, 1979. "The Optimal Exploitation of Renewable Resource Stocks: Problems of Irreversible Investment," Econometrica, Econometric Society, vol. 47(1), pages 25-47, January.
    13. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62(2), pages 124-124.
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    More about this item

    Keywords

    Rights; rent; commons.;
    All these keywords.

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery

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