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Private Storage of Common Property

Author Info

Listed author(s):
  • Gaudet, Gerard
  • Moreaux, Michel
  • Salant, Stephen W.

Abstract

This paper examines a characteristic of common property problems unmodeled in the published literature: Extracted common reserves are aften stored privately rather than immediately. We examine the positive and normative effects of such storage.

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File URL: http://www.sciencedirect.com/science/article/pii/S0095-0696(00)91184-7
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Article provided by Elsevier in its journal Journal of Environmental Economics and Management.

Volume (Year): 43 (2002)
Issue (Month): 2 (March)
Pages: 280-302

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Handle: RePEc:eee:jeeman:v:43:y:2002:i:2:p:280-302
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622870

Keywords:

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Find related papers by JEL classification:
  • Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General
  • Q31 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Demand and Supply; Prices

References listed on IDEAS
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  1. Libecap, Gary D & Wiggins, Steven N, 1984. "Contractual Responses to the Common Pool: Prorationing of Crude Oil Production," American Economic Review, American Economic Association, vol. 74(1), pages 87-98, March.
  2. Flood, Robert & Marion, Nancy, 1999. "Perspectives on the Recent Currency Crisis Literature," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 4(1), pages 1-26, January.
  3. Homans, Frances R. & Wilen, James E., 2000. "Market Rent Dissipation In Regulated Open Access Fisheries," 2000 Annual meeting, July 30-August 2, Tampa, FL 21878, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  4. Harold Hotelling, 1931. "The Economics of Exhaustible Resources," Journal of Political Economy, University of Chicago Press, vol. 39, pages 137-137.
  5. Krugman, Paul, 1979. "A Model of Balance-of-Payments Crises," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 11(3), pages 311-325, August.
  6. Tornell, Aaron & Velasco, Andes, 1992. "The Tragedy of the Commons and Economic Growth: Why Does Capital Flow from Poor to Rich Countries?," Journal of Political Economy, University of Chicago Press, vol. 100(6), pages 1208-1231, December.
  7. Richard J. Gilbert, 1979. "Optimal Depletion of an Uncertain Stock," Review of Economic Studies, Oxford University Press, vol. 46(1), pages 47-57.
  8. Salant, Stephen W & Henderson, Dale W, 1978. "Market Anticipations of Government Policies and the Price of Gold," Journal of Political Economy, University of Chicago Press, vol. 86(4), pages 627-648, August.
  9. Sinn, Hans-Werner, 1984. "Common Property Resources, Storage Facilities and Ownership Structures: A Cournot Model of the Oil Market," Economica, London School of Economics and Political Science, vol. 51(23), pages 235-252, August.
  10. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62, pages 124-124.
  11. Angelsen, Arild, 1999. "Agricultural expansion and deforestation: modelling the impact of population, market forces and property rights," Journal of Development Economics, Elsevier, vol. 58(1), pages 185-218, February.
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Cited by:

  1. Ngo Long & Gerhard Sorger, 2006. "Insecure property rights and growth: the role of appropriation costs, wealth effects, and heterogeneity," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 28(3), pages 513-529, 08.
  2. repec:eee:resene:v:49:y:2017:i:c:p:186-200 is not listed on IDEAS
  3. Liski, Matti & Montero, Juan-Pablo, 2014. "Forward trading in exhaustible-resource oligopoly," Resource and Energy Economics, Elsevier, vol. 37(C), pages 122-146.
  4. Benchekroun, Hassan & Withagen, Cees, 2012. "On price taking behavior in a nonrenewable resource cartel–fringe game," Games and Economic Behavior, Elsevier, vol. 76(2), pages 355-374.
  5. Hasegawa, Makoto & Salant, Stephen, 2014. "Cap-and-trade programs under delayed compliance: Consequences of interim injections of permits," Journal of Public Economics, Elsevier, vol. 119(C), pages 24-34.
  6. Jayasri Dutta & Colin Rowat, 2004. "The Road to Extinction: Commons with Capital Markets," GE, Growth, Math methods 0412001, EconWPA.
  7. Charles Morcom & Michael Kremer, 2000. "Elephants," American Economic Review, American Economic Association, vol. 90(1), pages 212-234, March.
  8. 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.
  9. Benchekroun, H. & Benchekroun, S., 2015. "Harvests' lifespan and North–South market share rivalry," International Review of Economics & Finance, Elsevier, vol. 37(C), pages 114-124.
  10. Hotte, Louis & McFerrin, Randy & Wills, Douglas, 2013. "On the dual nature of weak property rights," Resource and Energy Economics, Elsevier, vol. 35(4), pages 659-678.
  11. 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.
  12. 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.

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