Common-pool resource management: a new institutional economics perspective Cover Image
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Управление на общите и трансграничните общи ресурси от перспективата на новата институционална икономика
Common-pool resource management: a new institutional economics perspective

Author(s): Alexandra Mirchevska
Subject(s): Economy, National Economy
Published by: Институт за икономически изследвания при Българска академия на науките
Keywords: Elinor Ostrom; common-pool resource management (CPRM); international common-pool resource; new institutional economics; externalities; prisoner’s dilemma; governance

Summary/Abstract: The current paper introduces the theoretical approach of Common-pool resource management (CPRM). The paper summarizes the two dominant theoretical paradigms of CPRM theory – the traditional game-theoretic model, on one hand, and the new institutionalist approach mostly associated with the work of Elinor Ostrom, on the other. Through a theoretical comparison between the centralized and decentralized approaches to CPRM a focus on the main property rights distribution dilemma is provided. The paper provides a description of the role of internalization of externalities in achieving an efficient CPR management regime. The presented framework is transferred to the context of international common-pool resource management.

  • Issue Year: 2018
  • Issue No: 4
  • Page Range: 124-143
  • Page Count: 20
  • Language: Bulgarian