This review focuses on the economics of managing common pool resources in common property regimes, in particular the limitations imposed by transaction costs. The review discusses the relationship between poverty and property rights in natural resource management, and considers the influence of transaction costs on governance stucture. Some empirical studies that have attempted to quantify transaction costs are briefly reviewed.
Adhikari, A. 2001. Literature review on the economics of common property resources. York: Environment Department, York University, UK, 18 pp.