Jump to ContentJump to Main Navigation
Global Environmental CommonsAnalytical and Political Challenges in Building Governance Mechanisms$
Users without a subscription are not able to see the full content.

Eric Brousseau, Tom Dedeurwaerdere, Pierre-André Jouvet, and Marc Willinger

Print publication date: 2012

Print ISBN-13: 9780199656202

Published to Oxford Scholarship Online: September 2012

DOI: 10.1093/acprof:oso/9780199656202.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in OSO for personal use (for details see www.oxfordscholarship.com/page/privacy-policy).date: 18 January 2019

Property Rights as Solutions to the Problems of Open Access: Options and Constraints

Property Rights as Solutions to the Problems of Open Access: Options and Constraints

(p.308) 13 Property Rights as Solutions to the Problems of Open Access: Options and Constraints
Global Environmental Commons

Gary D. Libecap

Oxford University Press

This chapter examines why property rights that directly address externalities and link individual incentives with social objectives for resource use are not the first policy response to open access. Indeed, the creation of property rights often comes late in the experience of rent dissipation. This is despite the impressive record of success in addressing open access losses. The chapter argues that they are adopted only when their costs are offset by the aggregate rents that are saved from overexploitation. Because the transaction costs involved in assigning, measuring, and enforcing formal property rights can be large, the value of the resource and the nature of uncertainty determine the optimal time for introducing them. Crises that suddenly and sharply raise benefits and lower uncertainty, speed this process.

Keywords:   property rights, open access, rent dissipation, crises

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .