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Private Storage of Common Property

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Author Info

  • Gaudet, G.
  • Moreaux, M.
  • Salant, S.W.

Abstract

This paper examines a characteristic of common property problems unmodeled in the published literature: extracted common reserves are often stored privately rather than sold immediately. We examine the positive and normative effects of such storage, Privatization of common reserves through storage may eliminate inefficiency altogether but the premature extraction involved may also exacerbate them-even if rapid extraction does not reduce ultimate recovery.

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Bibliographic Info

Paper provided by Michigan - Center for Research on Economic & Social Theory in its series Papers with number 97-08.

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Length: 33 pages
Date of creation: 1997
Date of revision:
Handle: RePEc:fth:michet:97-08

Contact details of provider:
Postal: UNIVERSITY OF MICHIGAN, DEPARTMENT OF ECONOMICS CENTER FOR RESEARCH ON ECONOMIC AND SOCIAL THEORY, ANN ARBOR MICHIGAN U.S.A.

Related research

Keywords: COLLECTIVE OWNERSHIP ; STORAGE ; NATURAL RESOURCES;

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Cited by:
  1. Gaudet, Gerard & Salant, Stephen W., 2003. "The effects of periodic quotas limiting the stock of imports of durables," Journal of Economic Theory, Elsevier, vol. 109(2), pages 402-419, April.
  2. Wang, Min & Zhao, Jinhua, 2013. "Monopoly extraction of a nonrenewable resource facing capacity constrained renewable competition," Economics Letters, Elsevier, vol. 120(3), pages 503-508.
  3. Hassan Benchekroun & Cees Withagen, 2012. "On Price Taking Behaviour in a Non-renewable Resource Cartel-Fringe Game," OxCarre Working Papers 080, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
  4. Louis Hotte & Randy McFerrin & Douglas Wills, 2011. "On the Dual Nature of Weak Property Rights," Working Papers 1103E, University of Ottawa, Department of Economics.
  5. Jayasri Dutta & Colin Rowat, 2004. "The Road to Extinction: Commons with Capital Markets," GE, Growth, Math methods 0412001, EconWPA.
  6. Ngo Long & Gerhard Sorger, 2006. "Insecure property rights and growth: the role of appropriation costs, wealth effects, and heterogeneity," Economic Theory, Springer, vol. 28(3), pages 513-529, 08.
  7. Chong Huang, 2011. "Defending Against Speculative Attacks: Reputation, Learning, and Coordination," PIER Working Paper Archive 11-039, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  8. Charles Morcom & Michael Kremer, 2000. "Elephants," American Economic Review, American Economic Association, vol. 90(1), pages 212-234, March.

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