Common property regime , Microeconomics

Common Property Regime

Common property is the property on which well-defined collective claims by an exclusive group are established, the use of the resource is subtractive, having the characteristic of a public good such as indivisibility. The common property resource has two distinct features. First, it has the nature of a public good, which is the physical and intrinsic character of the resource. Second, it should have an association with a community or user group in a specific way, namely with collective claims.

Further, CPR, in principle, has three basic characteristics.  First, a well-defined group or community has to have exclusive rights on the use of the resource. Second, there is the non-excludability condition that no member of that community can be excluded from the use of the resource. However, no single individual in the group has any exclusive property rights on those resources either. Nor does any outsider member have any rights. Third, the use of the resource is subtractive in the sense that use of it by any user would reduce access and the welfare of other members in the group.


Posted Date: 12/18/2012 12:02:12 AM | Location : United States

Related Discussions:- Common property regime , Assignment Help, Ask Question on Common property regime , Get Answer, Expert's Help, Common property regime Discussions

Write discussion on Common property regime
Your posts are moderated
Related Questions
Demand is defined as a schedule of the quantities fo good that will be purchased at various prices similarly the supply refers to the schedule of the quantities of a good that will

During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use supply and demand diagrams, how the following markets are affected in terms of pr

Compare and Contrast Classical and Neo classical theory of interest

1. Assume that the market for wheat is perfectly competitive. Suppose the demand curve for wheat is given by: QD = 200 – 2P where QD is the quantity demanded, in bushels, and P i

Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4 1. Suppose that the

REAL BUSINESS CYCLE THEORY: The parable that motivates this discussion originated with Edmund Phelps and invites you to think that all men (and women) are islands. They have p

what is The most important source of oligopoly?

Suppose that the total revenue function of a firm is given by TR(q) = 120q - 2q^2, where q is the level of output. Find the level of output q that will maximize the firm’s total re