Golden Rule in Cooperative Commons

This paper considers common use of natural, renewable resources. It identifies good prospects for efficiency and welfare. To wit, a core outcome - hence cooperation - can be secured over time by principal planning of total quotas, and in time by agents who share these in short-term markets. Information flows in two directions: from the principal as aggregate quantities, to him as market prices or valuations.Of particular interest is eventual convergence to a golden-rule, steady state