Common Ownership of Public Goods
Maija Halonen-Akatwijuka, Evagelos Pafilis
Research output:Contribution to journal ›Article (Academic Journal) ›peer-review
Abstract
We analyze ownership of public goods in a repeated game focusing on common ownership. Under common ownership an owner’s access to the public good cannot be restricted by other owners. We find that under common ownership both the value of the relationship and the gain from deviation are high. Common ownership can provide the best incentives for cooperation when the value of the public good cannot be increased much by maintenance investments or the maintenance costs are sufficiently convex. We argue that these conditions are satisfied in Ostrom’s field studies of irrigation systems and common lands.
| Original language | English |
|---|---|
| Pages (from-to) | 555-578 |
| Number of pages | 24 |
| Journal | Journal of Economic Behavior and Organization |
| Volume | 180 |
| Early online date | 13 Nov 2020 |
| DOIs | |
| Publication status | Published -1 Dec 2020 |
Research Groups and Themes
- ECON Microeconomic Theory
Keywords
- public goods
- common pool resources
- property right theory
- relational contracts
- common ownership
- joint ownership
Access to Document
- Full-text PDF (author’s accepted manuscript)
This is the author accepted manuscript (AAM). The final published version (version of record) is available online via Elsevier at https://www.sciencedirect.com/science/article/pii/S016726812030370X . Please refer to any applicable terms of use of the publisher.
Accepted author manuscript, 432 KBLicence:CC BY-NC-ND
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Dr Maija Halonen-Akatwijuka
- School of Economics -Associate Professor
- Centre for Market and Public Organisation
Person:Academic , Member
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