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The commons with capital markets

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  • Colin Rowat
  • Jayasri Dutta

Abstract

See Birmingham Discussion Paper 05-19 (December 2005) for current version.

Suggested Citation

  • Colin Rowat & Jayasri Dutta, 2005. "The commons with capital markets," Discussion Papers 05-01, Department of Economics, University of Birmingham.
    • Handle: RePEc:bir:birmec:05-01
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    3. Sonin, Konstantin, 2003. "Why the rich may favor poor protection of property rights," Journal of Comparative Economics, Elsevier, vol. 31(4), pages 715-731, December.
    4. Jayasri Dutta & Colin Rowat, 2004. "The Road to Extinction: Commons with Capital Markets," Discussion Papers 04-11, Department of Economics, University of Birmingham, revised Jan 2007.
    5. Karla Hoff & Joseph E. Stiglitz, 2004. "After the Big Bang? Obstacles to the Emergence of the Rule of Law in Post-Communist Societies," American Economic Review, American Economic Association, vol. 94(3), pages 753-763, June.
    6. Dutta, Prajit K & Sundaram, Rangarajan K, 1993. "The Tragedy of the Commons?," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 3(3), pages 413-426, July.
    7. Jayasri Dutta & Colin Rowat, 2004. "The Road to Extinction: Commons with Capital Markets," GE, Growth, Math methods 0412001, University Library of Munich, Germany.
    8. Gerhard Sorger, 1997. "Markov-perfect Nash equilibria in a class of resource games," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 11(1), pages 79-100.
    9. Charles Morcom & Michael Kremer, 2000. "Elephants," American Economic Review, American Economic Association, vol. 90(1), pages 212-234, March.
      • Michael Kremer & Charles Morcom, 1996. "Elephants," NBER Working Papers 5674, National Bureau of Economic Research, Inc.
      • Kremer, M. & Morcom, C., 1996. "Elephants," Working papers 96-17, Massachusetts Institute of Technology (MIT), Department of Economics.
    10. Williamson, John, 2000. "What Should the World Bank Think about the Washington Consensus?," The World Bank Research Observer, World Bank, vol. 15(2), pages 251-264, August.
    11. Robin Brooks & Michael Murray & Stephen Salant & Jill C. Weise, 1999. "When Is the Standard Analysis of Common Property Extraction under Free Access Correct? A Game-Theoretic Justification for Non-Game-Theoretic Analyses," Journal of Political Economy, University of Chicago Press, vol. 107(4), pages 843-858, August.
    12. Colin Rowat & Jayasri Dutta, 2007. "The Commons with Capital Markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 31(2), pages 225-254, May.
    13. Clark, Colin W, 1973. "Profit Maximization and the Extinction of Animal Species," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 950-961, July-Aug..
    14. Michael Kremer & Charles Morcom, 2003. "Elephants: Reply," American Economic Review, American Economic Association, vol. 93(4), pages 1446-1448, September.
    15. 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.
    16. Homans, Frances R. & Wilen, James E., 2005. "Markets and rent dissipation in regulated open access fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 49(2), pages 381-404, March.
    17. R. G. Lipsey & Kelvin Lancaster, 1956. "The General Theory of Second Best," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 24(1), pages 11-32.
    18. Philip R. Lane & Aaron Tornell, 1999. "The Voracity Effect," American Economic Review, American Economic Association, vol. 89(1), pages 22-46, March.
    19. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Palgrave Macmillan Books, in: Chennat Gopalakrishnan (ed.), Classic Papers in Natural Resource Economics, chapter 9, pages 178-203, Palgrave Macmillan.
    20. David Levhari & Leonard J. Mirman, 1980. "The Great Fish War: An Example Using a Dynamic Cournot-Nash Solution," Bell Journal of Economics, The RAND Corporation, vol. 11(1), pages 322-334, Spring.
    21. Erwin H. Bulte & Richard D. Horan & Jason F. Shogren, 2003. "Elephants: Comment," American Economic Review, American Economic Association, vol. 93(4), pages 1437-1445, September.
    22. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62(2), pages 124-124.
    23. Harris, Christopher & Reny, Philip & Robson, Arthur, 1995. "The Existence of Subgame-Perfect Equilibrium in Continuous Games with Almost Perfect Information: A Case for Public Randomization," Econometrica, Econometric Society, vol. 63(3), pages 507-544, May.
    24. Timothy Besley & Robin Burgess, 2003. "Halving Global Poverty," Journal of Economic Perspectives, American Economic Association, vol. 17(3), pages 3-22, Summer.
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    Citations

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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, August.
    2. Fabbri, G. & Faggian, S. & Freni, G., 2018. "Spatial resource wars: A two region example," Working Papers 2018-04, Grenoble Applied Economics Laboratory (GAEL).
    3. Van Long, Ngo & McWhinnie, Stephanie F., 2012. "The tragedy of the commons in a fishery when relative performance matters," Ecological Economics, Elsevier, vol. 81(C), pages 140-154.
    4. Fabbri, Giorgio & Faggian, Silvia & Freni, Giuseppe, 2020. "Policy effectiveness in spatial resource wars: A two-region model," Journal of Economic Dynamics and Control, Elsevier, vol. 111(C).
    5. Colin Rowat & Jayasri Dutta, 2007. "The Commons with Capital Markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 31(2), pages 225-254, May.
    6. Rahmi İlkılıç, 2011. "Networks of common property resources," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 47(1), pages 105-134, May.
    7. Colin Rowat & Jayasri Dutta, 2004. "The road to extinction: commons with capital markets," Econometric Society 2004 North American Summer Meetings 145, Econometric Society.
    8. Alvarez-Cuadrado, Francisco & Van Long, Ngo, 2011. "Relative consumption and renewable resource extraction under alternative property-rights regimes," Resource and Energy Economics, Elsevier, vol. 33(4), pages 1028-1053.
    9. Jayasri Dutta & Colin Rowat, 2004. "The Road to Extinction: Commons with Capital Markets," GE, Growth, Math methods 0412001, University Library of Munich, Germany.

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    More about this item

    Keywords

    commons; capital markets; Washington Consensus; property rights;
    All these keywords.

    JEL classification:

    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply; Prices

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