The tradeoff of the commons under stochastic use

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• 作者：Xiaoyong Cao ^{yongcx2000@uibe.edu.cn} ; Jiong Gong ; ^{johngong@gmail.com}
• 关键词：C60 ; H42 ; I31 ; L51
• 刊名：Journal of Public Economics
• 出版年：2017
• 出版时间：January 2017
• 年：2017
• 卷：145
• 期：Complete
• 页码：150-161
• 全文大小：379 K
• 卷排序：145

文摘

We develop a model of scarce renewable resources to study the problem of the commons. Our model formulation assumes that the use of commons to be stochastic. We investigate three mechanisms of resource allocation: free usage, the exclusive franchise, and a regulated monopoly. The welfare tradeoff depends on the characteristics of the commons and their usage patterns. We then make four extensions that apply to spectrum allocations.