Commons are holistic social institutions to govern the (re)production of resources, articulated through interrelated legal, socio-cultural, economic and institutional dimensions. They represent a comprehensive and radical approach to organise collective action, placing it "beyond market and...

Common resources may be managed with inefficient policies for the sake of equity. We study how rationing the commons shapes the efficiency and equity of resource use, in the context of agricultural groundwater use in Rajasthan, India. We find that rationing binds on input use, such that farmers,...

The National Park Service and other agencies have argued that our recreation lands face a crisis of deferred maintenance. This paper evaluates two proposals for funding public lands, increasing gate fees and taxing recreational gear. It analyzes the joint welfare effects of such taxes and the...

Governments often allocate property rights to protect common-pool resources (CPR) from over-harvesting and poaching, but it is not clear if one method of allocating property rights is better than another. We use a laboratory experiment to determine whether earned or assigned property rights...

This paper empirically shows that stock-level margin trading commoves significantly with market-aggregate margin trading even after controlling for market return, market-wide liquidity, and individual determinants of margin trading. A closer examination suggests that the common influences and...

An under-examined question for social scientists is whether migrant communities are less likely to support institutions for managing common-pool resources as common property. A significant body of literature suggests that a high rate of migration undermines institutional processes in local...

Cultural heritage was invented in the realm of nation-states, and from an early point it was considered a public asset, stewarded to narrate the historic deeds of the ancestors, on behalf of their descendants. Nowadays, as the neoliberal narrative would have it, it is for the benefit of these...