Premium
Distributing the Benefits from the Commons: A Square‐Root Formula
Author(s) -
Silvestre Joaquim
Publication year - 1998
Publication title -
scandinavian journal of economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.725
H-Index - 64
eISSN - 1467-9442
pISSN - 0347-0520
DOI - 10.1111/1467-9442.00126
Subject(s) - value (mathematics) , economics , fish <actinopterygii> , commons , microeconomics , economic surplus , resource (disambiguation) , distribution (mathematics) , fishery , agricultural economics , statistics , ecology , mathematics , welfare , biology , market economy , computer science , computer network , mathematical analysis
What should be the distribution of the benefits of a fishery (or common‐pool resource) where a group of fishers catch fish and sell it to consumers? I propose that, for each person i , where i is a fisher or a consumer, i's returns should be proportional to i's contributions . Unexpectedly, this implies that the fraction of benefits accruing to consumers must be √value of total output of fish/√value of total outputs of fish+√value of total fishers' labor.
Accelerating Research
Robert Robinson Avenue,
Oxford Science Park, Oxford
OX4 4GP, United Kingdom
Address
John Eccles HouseRobert Robinson Avenue,
Oxford Science Park, Oxford
OX4 4GP, United Kingdom