This paper examines an industry whose economic activity uses a natural capital on which its profit also relies. When such a productive natural capital has a limited capacity to recover from its exploitation, a free market tends to over-exploit it, calling for public intervention. The analysis is...

In the natural-resource literature, conventional wisdom holds that weak property rights will cause a resource to be over-exploited. This is because weak property rights are typically perceived as a problem of input exclusion – or theft of un-extracted resources. We present evidence to the...

In arid and semiarid areas, bimodal and high rainfall leads to infrequent flood that can be extremely damaging. To reduce the impacts of persistent intra-seasonal drought and also to reduce flood damaging in arid and semiarid areas, rainwater storage is a prerequisite that keeps water far from...

In the natural resource literature, convertional wisdom holds that weak property rights will cause a resource to be over-exploited. This is because weak property rights are typically perceived as a problem of input exclusion. In this paper, we first present evidence to the effect that weak...

Several studies have revealed that the presence of heterogeneity amongst the user groups of common property natural resources considerably affects the effectiveness of resource management and their sustainable use. Primary research conducted in six sample villages from three districts of the...