search query: @freeterm common property resources / total: 2
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| Author: | Bergstrom, T. C. |
| Title: | The uncommon insight of Elinor Ostrom |
| Journal: | Scandinavian Journal of Economics
2010 : VOL. 112:2, p. 245-261 |
| Index terms: | institutional economics politics property rights |
| Freeterms: | common property resources |
| Language: | eng |
| Abstract: | Two competing remedies have been emphasized by standard economic approaches to the problem of overuse of common property resources: the Pigovian approach of corrective taxation and the property rights approach of internalizing externalities by means of assigning marketable property rights to individual owners with exclusive claim on the entire commons. Elinor Ostrom pursues a third approach, which is based on case studies of existing communities that have established successful and durable systems of managing common property resources. Here her work is discussed and it is suggested that economists with an interest in public policy have much to gain from becoming familiar with the work of Ostrom and her co-authors. |
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