The use of common property resources: A dynamic model

Arbeitspapier

The government of common agricultural and forestry land is a topic that is currently enjoying a revival of interest. Many local communities have shown the ability to pursue sustainable use of natural resources thanks to their self-governed authorities. In this context the relationship between public and private interest which is established in use of the resource is a fairly controversial. The paper proposes a dynamic model to analyse the behaviour of a user of a common property resource in a "real option" framework, where the value of the right to use the resource is affected by: 1) uncertainty on the future amount of the resource; 2) entry and exit costs and 3) the number of users competitors.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Nota di Lavoro ; No. 13.2002

Classification and Topics

• Classification: Wirtschaft
• Subject: Common property resources ; option value ; uncertainty ; Gemeingüter ; Dynamisches Modell ; Theorie ; Realoptionsansatz

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Moretto, Michele ; Rosato, Paolo
• Event: Veröffentlichung
• (who): Fondazione Eni Enrico Mattei (FEEM)
• (where): Milano
• (when): 2002

Further information

• Handle: http://hdl.handle.net/10419/119622
• Last update: 10.03.2025, 11:44 AM CET