common pool
(en)
a type of good consisting of a resource system for which it's hard but not impossible to restrict (e.g. an irrigation system or fishing grounds); differs from pure public goods in that they face problems of congestion or overuse, because they are subtractable; consists of a core resource (e.g., water or fish) which defines the stock variable, while providing a limited quantity of extractable fringe units, which defines the flow variable
Its favourite narrative is of excessive demands on the ‘common pool’
on the standard economic theory of politics
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7 years, 8 months ago