While research has revealed the role of common property in risk diversification, poverty alleviation and resource management, few studies identify how common property management systems fill that role uniquely where market mechanisms or private property rights fail. To address that gap, the...

We analyze the interaction of asymmetric industries in international vertically related markets. Each downstream finn bargains efficiently with its domestic supplier in a first stage and with the foreign supplier in a second stage. The asymmetry in upstream costs leads to interindustry trade. It...