Rights on what is left
Allocating property rights on an open access resource which has been freely exploited in the past is often very problematic. Involved agents typically rely on one of two competing principles to determine future allocation. The first priority principle, "first in time, first in rights" favors the status quo while the other one, "historical accountability", is a corrective justice argument. We construct a simple model inspired by the claims problem literature to show that these two positions are in fact compatible: they define bounds to the set of possible allocations. We detail a family of methods which meets these bounds and characterize the two extreme points of this family: the equal sharing and the uniform gains methods.
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| Date of creation: | Sep 2009 |
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| Handle: | RePEc:pra:mprapa:27285 |
| Contact details of provider: | Postal: Ludwigstraße 33, D-80539 Munich, Germany Phone: +49-(0)89-2180-2459 Fax: +49-(0)89-2180-992459 Web page: https://mpra.ub.uni-muenchen.de More information through EDIRC
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Antonio Villar Notario & Carmen Herrero Blanco, 2000.
"The Three Musketeers: Four Classical Solutions To Bankruptcy Problems,"
Working Papers. Serie AD
2000-23, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Herrero, Carmen & Villar, Antonio, 2001. "The three musketeers: four classical solutions to bankruptcy problems," Mathematical Social Sciences, Elsevier, vol. 42(3), pages 307-328, November.
- Hervé Moulin, 2000. "Priority Rules and Other Asymmetric Rationing Methods," Econometrica, Econometric Society, vol. 68(3), pages 643-684, May.
- Herve Moulin, 2004. "Fair Division and Collective Welfare," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262633116, December.
- Moulin, Herve, 1992. "Welfare bounds in the cooperative production problem," Games and Economic Behavior, Elsevier, vol. 4(3), pages 373-401, July.
- Adam Rose & Brandt Stevens & Jae Edmonds & Marshall Wise, 1998. "International Equity and Differentiation in Global Warming Policy," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 12(1), pages 25-51, July.
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