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...

Purpose – Regulating common‐pool resources is welfare enhancing for society but not necessarily for all users who may therefore oppose regulations. The purpose of this paper is to examine the short‐term impact of common‐pool resource regulations on welfare distribution....

Purpose – Regulating common-pool resources is welfare enhancing for society but not necessarily for all users who may therefore oppose regulations. The purpose of this paper is to examine the short-term impact of common-pool resource regulations on welfare distribution....