Keyword: Property rights
A Good Fence Makes Good Neighbors (4/19/2001)
Fencing makes it easier to enforce property rights.
External Benefit and External Cost (11/2/2011)
External cost and external benefit exist because some property rights have not been clearly defined and enforced. Their existence leads to misallocation of resources.
Fished Out! (2/9/2001)
By assigning fishing quotas to individual fisherman, Iceland has solved the problem of over-exploitation typically associated with open access to common-pool resources.
Owners, Keepers? (12/8/2000)
Stronger property rights may reduce overexploitation of natural resources that require little upfront capital investment, but may lead to faster exploitation of resources that require substantial upfront capital investment.
Property Rights and Externality (7/7/2006)
Transferable and enforceable property rights encourage investment and high-valued uses.
Right Makes Might (2/27/2001)
The right to transfer private property has led to windfall gain to right owners and better allocation of scarce resources, such as water and power.
Scoop Your Poop (11/2/2011)
Enforceable property rights reduce external costs.
Shovelers Keepers? (6/7/2004)
Uncertain property rights will lead to either underinvestment or unnecessary disputes.
Spillovers Are Not Always Externalities (6/22/2006)
External costs or benefits exist only if property rights have not been clearly defined and/or when the negotiation or enforcement cost exceeds damage.
Squatters' Rights (1/23/1999)
Squatters move in when cost of accessing and hoarding scarce resources are low. They profit from charging others for the use of hoarded resources.
The Soviet Union - Super Power or Paper Tiger? (4/14/2000)
The dismal transition of the centrally planned Soviet economy to a market economy results from the collapse of an effective government with an encompassing interest and the non-existence of secure property rights.
The Tragedy of the Anticommons (8/13/1999)
When too many individuals have the right of exclusion to a scarce resource, and no one has an effective privilege of use, under-utilization may occur.
Tragedy of the commons (transcript) (3/27/2007)
Narrated lecture on over-exploitation of commons resources due to unlimited entry.
Water Disputes in California (4/14/2000)
Ambiguous property rights and high transaction costs may scuttle beneficial exchanges.
Windfall Profit (9/7/2005)
Unexpected market gain resulting from uncontrolled circumstances might serve as incentives to correctly allocate scarce resources.