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- W2523213018 abstract "Group ownership excludes outsiders from a common property resource without solving the cooperation problem of the insiders. Group ownership competes with private property rights for the use of a large number of sites. If protection of property rights is a privately produced service, the process of enclosure has multiple equilibria. At saddle points, only a fraction of all sites is transformed into private property. However, if a central protection organization is viable, it will displace group ownership entirely, since it internalizes the spillovers of the enclosures with its tax budget. The result will be complete privatization of all sites, a situation which is not necessarily Pareto-efficient. (JEL: D 23, D 62)" @default.
- W2523213018 created "2016-09-30" @default.
- W2523213018 creator A5070588867 @default.
- W2523213018 date "2016-01-01" @default.
- W2523213018 modified "2023-09-27" @default.
- W2523213018 title "The Enclosure of a Common Property Resource : Private and Group Ownership in Equilibrium" @default.
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