Common property resource management, Microeconomics

Common Property Resource Management

Common property resource means a good or service shared by a well-defined community. The community controls the use of such resource by individuals. However, enforcement is weak due to difficulties in monitoring. For example, water in a village pond, which is a common property resource, is used by the villagers only. The village as a community decides upon the manner and the purpose for which the pond water can be used, which results in a set of norms, evolved over time, and largely unwritten.  In case of a breach of the norms, however, imposition of penalty is poorly enforced due to poor monitoring, subjectivity in the norms and ambiguities in property rights.

The common property regime for managing natural resources is frequently misunderstood. It is often observed as a situation in which there is no management regime in place; as a situation of open access, which is free for all. Accordingly resource  degradation  in  the developing countries  is  incorrectly attributed to 'common property systems', whereas  it actually originates  in  the dissolution  of local level institutional arrangements. Therefore, there is a need to properly understand the common property resources and its management systems as these have direct bearing on the sustainable development of natural resources.

 

Posted Date: 12/17/2012 11:48:23 PM | Location : United States







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

Write discussion on Common property resource management
Your posts are moderated
Related Questions
COST-OF-LIVING INDEXES   * The CPI is computed each year as the ratio of cost of a typical group of consumer goods and services today in comparison to the cost during a base per

The Market Mechanism  Features of the equilibrium or market clearing price: – QD = QS  – No shortage or scarcity  – No extra supply price.  – No pressure on th

Problem: i) What might be the possible causes of inflation according to economic theory? ii) Taking stable prices and full employment as two macroeconomic objectives of gov

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Over the course of modern American economic history there have been market failures, various social problems, and other complexities that have resulted in certain resource markets

Causes of inflation: Excessive growth in wages relative to productivity can cause inflationary pressures. This causes aggregate demand to increase relative to aggregate supp

Find a recent hostile takeover in Europe and compare the European takeover tactics and defences to those tactics and defences in US. In your opinion do you think the targeted firm

The government notices that there is an output gap and decides to increase government spending with a stimulus package of $4 trillion in hopes that it will spur growth and stop une

Gibb''s energy In every chemical system, the substance moves in a direction in which there is a decrease in free energy, for example i.e. ?G is negative. G = H - TS where, G is

Division of Labor The occupation or breaking down of jobs into simple and repetitive responsibilities.