Keyword: commons

Property Rights and Externality (7/7/2006)

Transferable and enforceable property rights encourage investment and high-valued uses.

Keywords: barbed wire, cattle ranching, commons, enforcement cost, external benefit, external cost, externality, ownership, Property rights, spillovers, transferability

The Right to Pollute? (10/20/1999)

Pollution credits convert the atmosphere from a commons into private property. They can reduce pollution if the pollution cap is lower than the unrestricted total and lower the costs of reducing pollution if credits can be sold from low-cost avoiders and high-cost avoiders.

Keywords: allowances, Clean Air Act, commons, emissions, Environmental Protection Agency, EPA, greenhouse gases, nitrogen oxide, pollution, pollution credits, private property, quotas, sulfur dioxide, trading, utilities.

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.

Keywords: anticommons, bundle, commons, exclusion, holding out, inclusion, Kobe, land, property rights, tragedy, transaction costs

Tragedy of the Commons (11/2/2011)

Unlimited entry could easily lead to over-exploitation of commons resources.

Keywords: AP, average product, commons, marginal product, MP, over-exploitation, tragedy

Tragedy of the commons (transcript) (3/27/2007)

Narrated lecture on over-exploitation of commons resources due to unlimited entry.

Keywords: average product, commons, externality, free entry, marginal product, property rights, total product