haku: @indexterm GROUPS / yhteensä: 458
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| Tekijä: | Thomas, W. |
| Otsikko: | The enclosure of a common property resource: private and group ownership in equilibrium |
| Lehti: | Journal of Institutional and Theoretical Economics
1995 : DEC, VOL. 151:4, p. 631-657 |
| Asiasana: | ECONOMICS PROPERTY GROUPS |
| Kieli: | eng |
| Tiivistelmä: | Group ownership excludes outsiders from a common property resource without solving the cooperation problem of insiders. Group ownership competes with private property rights for the use of a large number of sites. If protection of property rights is a privately produced service, the process of enclosure has multiple equilibria. At saddle points, only a fraction of all sites is transformed into private property. However, if a central protection organization is viable, it will displace group ownership entirely. |
SCIMA