Common Property

New Palgrave Dictionary of Economics and the Law

23 Pages Posted: 29 May 1998

See all articles by Gary D. Libecap

Gary D. Libecap

University of California, Santa Barbara (UCSB) - Donald Bren School of Environmental Science & Management; University of Arizona - Karl Eller Center; National Bureau of Economic Research (NBER); PERC - Property and Environment Research Center

Abstract

This paper, forthcoming in the New Palgrave Dictionary of Economics and the Law, describes the phenomena of common property and the incentive issues it raises. Various solutions to potential rent dissipation are outlined as are the bargaining problems associated with designing and implementing each arrangement. Both legal and economic issues are included.

JEL Classification: D23

Suggested Citation

Libecap, Gary D., Common Property. New Palgrave Dictionary of Economics and the Law. Available at SSRN: https://ssrn.com/abstract=93549 or http://dx.doi.org/10.2139/ssrn.93549

Gary D. Libecap (Contact Author)

University of California, Santa Barbara (UCSB) - Donald Bren School of Environmental Science & Management ( email )

4670 Physical Sciences North
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805-893-8611 (Phone)

HOME PAGE: http://www.esm.ucsb.edu/people/usernew.asp?user=glibecap

University of Arizona - Karl Eller Center ( email )

McClelland Hall
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520-626-5269 (Fax)

HOME PAGE: http://www.bpa.arizona.edu/~libecap

National Bureau of Economic Research (NBER)

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PERC - Property and Environment Research Center

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