Free Access versus Private Property in a Resource: Income Distributions Compared

David de Meza and J R Gould

Journal of Political Economy, 1987, vol. 95, issue 6, 1317-25

Abstract: Distributions of income are compared under the alternative regimes of free access to, and private property in, a resource. It is shown that, in several analytically distinct cases, all those deprived of free access on conversion of a resource to private property can be better off, even though no compensating transfers are made. This resu lt can hold even if the granting of private property rights also conf ers monopoly or monopsony power. Copyright 1987 by University of Chicago Press.

Date: 1987
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