Property Rights and the Dynamics of Renewable Resources in North-South Trade

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.

Download Full-text

Renewable resources, property-rights regimes and endogenous growth

Ecological Economics ◽

10.1016/j.ecolecon.2004.03.033 ◽

2005 ◽

Vol 52 (1) ◽

pp. 31-41 ◽

Cited By ~ 29

Author(s):

Thomas R. Dalton ◽

R. Morris Coats ◽

Badiollah R. Asrabadi

Keyword(s):

Property Rights ◽

Endogenous Growth ◽

Renewable Resources

Download Full-text

Unitization of Spatially Connected Renewable Resources

The B E Journal of Economic Analysis & Policy ◽

10.2202/1935-1682.2714 ◽

2011 ◽

Vol 11 (1) ◽

Cited By ~ 9

Author(s):

Daniel T Kaffine ◽

Christopher Costello

Keyword(s):

Property Rights ◽

Renewable Resources ◽

Oil And Gas ◽

Renewable Resource ◽

Profit Sharing ◽

Spatial Property ◽

Spatial Connectivity ◽

Oil And Gas Fields ◽

Gas Fields ◽

Spatial Externality

Abstract Spatial connectivity of renewable resources induces a spatial externality in extraction. We explore the consequences of decentralized spatial property rights in the presence of spatial externalities. We generalize the notion of unitization—developed to enhance cooperative extraction of oil and gas fields—and apply it to renewable resources which face a similar spatial commons problem. We find that unitizing a common pool renewable resource can yield first-best outcomes even when participation is voluntary, provided profit sharing rules can vary by participant.

Download Full-text