Distributing the Benefits from the Commons: A Square-Foot Formula
What should be the distribution of the benefits of a fishery (or common-pool resource) where a group of fishers catch fish and sell it to consumers? The author proposes that, for each person i, where i is a fisher or a consumer, i's returns should be proportional to i's contributions. Unexpectedly, this implies that the fraction of benefits accruing to consumers must be equal to the square root of the value of total output of fish divided by (the square root of the value of total outputs of fish plus the square root of the value of total fishers' labor). Copyright 1998 by The editors of the Scandinavian Journal of Economics.
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- Joaquin Silvestre, 1994. "Economic analysis of public ownership," Investigaciones Economicas, Fundación SEPI, vol. 18(1), pages 19-66, January.
- Roemer John E. & Silvestre Joaquim, 1993. "The Proportional Solution for Economies with Both Private and Public Ownership," Journal of Economic Theory, Elsevier, vol. 59(2), pages 426-444, April.
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