DOI link to open access article:
Rights and rents in local commons
Sjur Didrik Flåm
Journal of Mechanism and Institution Design
Volume 5, issue 1, pages 119-140 (December 2020)
doi: 10.22574/jmid.2020.12.005
Motivated by management problems in national fisheries, we examine management of renewable resources in local or regional
commons. This paper suggests that property rights, or lack thereof, be replaced by
well-defined user rights. It shows that the use of commons can be conditioned, paid for, or valued, via market mechanisms.
To that end, direct deals and double auctions are expedient. Either institution can distribute, restore and
secure resource rent. Either can also focalize debates as to which
assignments, regulations or taxation of rights might be fair or legitimate.
Keywords: Rights, rent, commons.
JEL Classification Numbers: C71, D33, D51, Q22.
MSC Classification: 46N10, 91A80.