Common and Private Property to Exhaustible Resources: Theoretical Implications for Economic Growth

Clearcutting Maine: Implications for the Theory of Common Property Resources

One of the basic tenets of the theory of common property resources is that private property rights work to conserve natural resources. There is growing evidence, however, that some large forest owners in Maine are cutting their forests heavily, using poor-quality silviculture techniques. This overexploitation is being done by paper companies, forest contractors, and some private land owners, wh...

Games with Exhaustible Resources

We study N -player continuous-time Cournot games in an oligopoly where firms choose production quantities. These are nonzero-sum differential games, whose value functions may be characterized by systems of nonlinear Hamilton-Jacobi partial differential equations. When resources are in finite supply, such as oil, exhaustibility enters as boundary conditions for the PDEs. We analyze the problem w...

Optimal Growth Paths with Exhaustible Resources: an Information-based Model

Property Rights and Natural Resource : Socio - Economic Heterogeneity and Distributional Implications of Common Property Resource Management

Displacement and Alienation from Common Property Resources