This setting lets you change the way you view articles. You can choose to have articles open in a dialog window, a new tab, or directly in the same window.
Open in Dialog
Open in New Tab
Open in same window

Journal of Economic Perspectives: Vol. 7 No. 4 (Fall 1993)

Expand

Quick Tools:

Print Article Summary
Export Citation
Sign up for Email Alerts Follow us on Twitter

Explore:

JEP - All Issues


Managing Local Commons: Theoretical Issues in Incentive Design

Article Citation

Seabright, Paul. 1993. "Managing Local Commons: Theoretical Issues in Incentive Design." Journal of Economic Perspectives, 7(4): 113-134.

DOI: 10.1257/jep.7.4.113

Abstract

Local commons encompass a wide range of resources whose shared feature is the need for some form of collective management. In what follows, we shall be concerned mainly with the problems of implementing a collective management plan. Whatever the mechanisms invoked, many recent contributions to the literature have stressed that relatively informal collective management of common property resources can in the right circumstances avoid the severe resource degradation predicted by "the tragedy of the commons." Nevertheless, both empirical and theoretical arguments suggest that cooperative behavior may be only partial, and the incentives of short-term self-interest only partially held in check. Under what circumstances, then, can more formal implementation mechanisms make good the deficiency? And, given that formal incentives are typically stronger than informal ones, are there any reasons why informal incentives might nevertheless sometimes be preferred?

Article Full-Text Access

Full-text Article (Complimentary)

Authors

Seabright, Paul (Churchill College)

JEL Classifications

Q21: Renewable Resources and Conservation: Demand and Supply (the Commons

Comments

View Comments on This Article (0) | Login to post a comment


Journal of Economic Perspectives


Quick Tools:

Sign up for Email Alerts

Follow us on Twitter

Subscription Information
(Institutional Administrator Access)

Explore:

JEP - All Issues

Virtual Field Journals


AEA Member Login:


AEAweb | AEA Journals | Contact Us