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Completing Ostrom’s Table : A Note on the Taxonomy of Goods

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  • Emmanuel S. de Dios

    (School of Economics, University of the Philippines Diliman)

Abstract

A framework is proposed to subsume public goods and common-pool resources, respectively, as specific cases of positive and negative externalities. A pure public good is a positive externality whose appropriable benefits are too small or too uncertain relative to the high private cost for anyone to produce it in any amount. The common-pool problem is a case where each agent’s action imposes a negative externality on everyone else.

Suggested Citation

  • Emmanuel S. de Dios, 2015. "Completing Ostrom’s Table : A Note on the Taxonomy of Goods," UP School of Economics Discussion Papers 201503, University of the Philippines School of Economics.
    • Handle: RePEc:phs:dpaper:201503
    as

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    File URL: http://www.econ.upd.edu.ph/dp/index.php/dp/article/view/1474
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    References listed on IDEAS

    as
    1. Coase, R H, 1974. "The Lighthouse in Economics," Journal of Law and Economics, University of Chicago Press, vol. 17(2), pages 357-376, October.
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    More about this item

    Keywords

    public goods; common-pool resources; positive and negative externalities;
    All these keywords.

    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods

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