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Copeland, Brian R., and
M. Scott Taylor. 2009. "Trade, Tragedy, and the Commons."
,
99(3): 725-49.
Show Article Details
DOI: 10.1257/aer.99.3.725
Abstract:We develop a theory of resource management where the degree to which countries
escape the tragedy of the commons, and hence the de facto property rights
regime, is endogenously determined. Three forces determine success or failure
in resource management: the regulator's enforcement power, the extent of harvesting
capacity, and the ability of the resource to generate competitive returns
without being extinguished. The model can explain heterogeneity across countries
and resources in the effectiveness of resource management, and it predicts
that changes in prices, population, and technology can cause transitions to
better or worse management regimes. (JEL P14, Q21, Q22, Q23, Q32)
Authors:
Copeland, Brian R. (U British Columbia)
Taylor, M. Scott (U Calgary)
JEL Classifications:
P14: Capitalist Systems: Property Rights
Q21: Renewable Resources and Conservation: Demand and Supply (the Commons)
Q22: Renewable Resources and Conservation: Fishery; Aquaculture
Q23: Renewable Resources and Conservation: Forestry
Q32: Exhaustible Resources and Economic Development
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