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: This article aims to reflect about how can be managed the common pool resources oriented by principles of externalities and property. Thus, the guiding concepts for decision making regarding these two factors were those of the positive or negative externalities generated from the exploration, and the use of a good as well as the aspects related to the property of resources. Based on the understanding that resources can be categorized, as being rivals and / or excluders, and their consume generate externalities to other social actors in the present, as well as to their own possessors or potential users in the future. Therefore, based on the study of these relationships, a better decision-making process can be reached on the issues of ownership of access, and on management as to the preservation and use of common pool resources. Moreover, it is necessary to understand that every resource consumed promotes, at some point, positive or negative externalities to other individuals. In addition, the simple monetization of resources does not solve the problem of negative externalities. Therefore, based on the categorization of the property that has to be exercised, and the externalities, it is possible to understand how to manage a common pool resource. This situation helps to understand the exercise of control and usufruct of the common pools.

EXTERNALITIES AND PROPERTY AS GUIDING FACTOR FOR THE MANAGEMENT OF COMMON POOL RESOURCES