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Managing the Common. Evolution of Institutions of Collective Activity

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The problem of managing common-pool natural resources has attracted much attention from policymakers. The usual solutions are either government regulation or privatization. But neither government nor market has demonstrated unambiguous success in this area. After critically examining the foundations of the dominant approach to assessing natural resource policy, the author presents a unique body of empirical evidence from studies of the conditions under which common-pool problems have been resolved satisfactorily and unsatisfactorily. Ostrom first describes the three models most often used to formulate policy recommendations—either government or market. Then, after illustrating the diversity of possible solutions, she applies institutional analysis to examine the different ways—both successful and unsuccessful—of managing common-pool resources. It turns out that common-pool problems can sometimes be resolved through voluntary organizations without resorting to government coercion. The author was awarded the 2009 Nobel Prize in Economics for her research.
  • Article no.: 70200700
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