Private Storage of Common Property
Gérard Gaudet,
Michel Moreaux and
Stephen Salant
Working Papers from Michigan - Center for Research on Economic & Social Theory
Abstract:
This paper examines a characteristic of common property problems unmodeled in the published literature: extracted common reserves are often stored privately rather than sold immediately. We examine the positive and normative effects of such storage, Privatization of common reserves through storage may eliminate inefficiency altogether but the premature extraction involved may also exacerbate them-even if rapid extraction does not reduce ultimate recovery.
Keywords: COLLECTIVE OWNERSHIP; STORAGE; NATURAL RESOURCES (search for similar items in EconPapers)
JEL-codes: Q30 Q32 (search for similar items in EconPapers)
Pages: 33 pages
Date: 1997
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Journal Article: Private Storage of Common Property (2002)
Working Paper: Private Storage of Common Property (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:michet:97-08
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