Extracting spatial resources under possible regime shift

Christopher Costello, Bruno Nkuiya () and Nicolas Querou
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Christopher Costello: Bren School of Environmental Science & Management - UC Santa Barbara - University of California [Santa Barbara] - UC - University of California

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Abstract: We examine theoretically a system of spatially-connected natural resource concessions with limited tenure. The resource migrates around the system and thus induces a spatial externality, so complete decentralization will not solve the tragedy of the commons. We analyze a system in which conces-sions can be renewed, but only if their owners maintain resource stocks above a pre-defined target. We show that this instrument improves upon the decentralized property right solution and can replicate (under general conditions) the socially optimal extraction path in every patch, in perpetuity. The duration of tenure and the dispersal of the resource play pivotal roles in whether this instrument achieves the socially optimal outcome, and sustains cooperation of all concessionaires.

Keywords: spatial management; regime shift; renewable ressources; property rights; renewable resources; adaptation au changement climatique; droit de propriété; ressource renouvelable; gestion de l'espace (search for similar items in EconPapers)
Date: 2017
New Economics Papers: this item is included in nep-env
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Citations: View citations in EconPapers (3)

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Working Paper: Extracting spatial resources under possible regime shift (2017)
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