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Market failure, perception and logic of the commons. Case: Sierra Nevada National Park, Venezuela

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  • José Miguel Sánchez

    (Doctor en Economía de los Recursos Naturales y el Desarrollo Sostenible de la Universidad Nacional Autónoma de México. Profesor del Instituto de Investigaciones Económicas y Sociales, Universidad de Los Andes, Mérida, Venezuela. Teléfono: +58-274-2401081.)

Abstract

Garrett Hardin’s approach, Tragedy of the Commons, has led to the generalization and oblivion of the conditions and assumptions under which open access resources tend to be degraded as a result of their logic or dilemma. This paper aims to reinterpret many of the causes that, according to hardinian and post-hardinian literature, lead to the degradation of natural resources. Economic theory provides the analytical tools needed to propose policies and programs for the management of natural areas such as the Sierra Nevada National Park.

Suggested Citation

  • José Miguel Sánchez, 2018. "Market failure, perception and logic of the commons. Case: Sierra Nevada National Park, Venezuela," Economía, Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela, vol. 43(45), pages 73-103, January-J.
    • Handle: RePEc:ula:econom:v:43:y:2018:i:45:p:73-103
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    References listed on IDEAS

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    2. Mogas, Joan & Riera, Pere & Bennett, Jeff, 2006. "A comparison of contingent valuation and choice modelling with second-order interactions," Journal of Forest Economics, Elsevier, vol. 12(1), pages 5-30, March.
    3. Nick Hanley & Douglas MacMillan & Robert E. Wright & Craig Bullock & Ian Simpson & Dave Parsisson & Bob Crabtree, 1998. "Contingent Valuation Versus Choice Experiments: Estimating the Benefits of Environmentally Sensitive Areas in Scotland," Journal of Agricultural Economics, Wiley Blackwell, vol. 49(1), pages 1-15, March.
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    More about this item

    Keywords

    Market failure; common resources; open access resources; Tragedy of the Commons.;
    All these keywords.

    JEL classification:

    • Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply; Prices

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