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Common Property Economics: A General Theory and Land Use Applications

By Glenn G. Stevenson
Paperback
$62.00
By Glenn G. Stevenson
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Common Property Economics defines and clarifies the theoretical distinction between open access and common property and empirically tests the adequacy of resource allocation under common property in comparison with private property. The book presents theoretical models to demonstrate overexploitation under open access. Seven necessary and sufficient conditions differentiate common property from open access. Swiss alpine grazing commons are contrasted with grazing in the English open field s...