Open-access, common-pool resources, such as many fisheries, aquifers, oil pools, and the atmosphere, often require some type of regulation of private access and use to avoid wasteful exploitation. This paper summarizes the arguments and literature associated with this problem. The historical and contemporary record of open-access resources is not a happy one, and many of the problems persist, despite large aggregate gains from resolving them. The discussion here suggests why that is the case. The paper focuses on government responses to the common pool, the private and political negotiations underlying them, and the information and transaction costs that influence the design of property rights and regulatory policies. Understanding the type of institution that emerges and its effects on the commons depends upon identifying the key parties involved, their objectives, and their political influence. Further, it requires detailed analysis of the bargaining that occurs within and across groups. The paper summarizes the open-access problem and provides case analyses of regulation of common-pool fisheries, oil reservoirs, and the atmosphere. The final section summarizes the general themes and the advantages of the New Institutional Economics (NIE) approach to analyzing the common pool.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Paper provided by ICER - International Centre for Economic Research in its series ICER Working Papers with number
19-2003.
Length: 36 pages Date of creation: Jun 2003 Date of revision: Handle: RePEc:icr:wpicer:19-2003
Contact details of provider: Postal: Viale Settimio Severo, 63 - 10133 Torino - Italy Phone: +39 011 6604828 Fax: +39 011 6600082 Email: Web page: http://www.icer.it More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Alessandra Calosso).
Related research
Keywords:
This paper has been announced in the following NEP Reports: