Keyword: common-pool 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.
Keywords: common-pool resources, Iceland, Individual Transferable Quotas (ITQs), negative externalities, open access fishery, over-extraction, over-fishing, property rights, returns to capital, tragedy of the commons
The Tragedy of the Popsicle Commons (2/15/2001)
Over-exploitation of commons resources could be avoided if the rights to commonly owned resources are assigned to individual owners.
Keywords: common property, common-pool resources, fishery depletion, Popsicles, private property, privatizing, tragedy of the commons