Rivalry, excludability , common property resources, public goods

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Colorado State University
Agriculture + Resrce Econ
AREC 202
Christopher Goemans

9 December Common property resources Like a fishery Rivalry – the consumption decisions by one individual affect another’s ability to consume E.g. if I drink Monster energy drink, you can’t drink that one Excludability – One individual can put up barriers to prevent others from consuming Rival? Excludable? Then… Soda Cars Yes Yes Backpacks “Private Goods” Fish (ocean) Cattle grazing No “Common Goods” Large tracts of land Property No Yes Telephone lines “Club Goods” Public parks No Solar power “Public Goods” Please do not confused common goods and public goods Common property resources Imagine a field. A guy has a cow he wants to put on the field so it can eat and grow This guy will continue to add cattle until MB = MC What if there are more cattle ranchers? They all use fields until their MB = their MC. What if two guys want to use the same field? The second rancher imposes costs on the first ranc
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