979 resultados para Heron son of Damis


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This paper proposes a model of natural-resource exploitation when private ownership requires costly enforcement activities. For a given wage rate, it is shown how enforcement costs can increase with labor's average productivity on a resource site. As a result, it is never optimal for the site owner to produce at the point where marginal productivity equals the wage rate. It may even be optimal to exploit at a point exhibiting negative marginal returns. An important parameter in the analysis is the prevailing wage rate. When wages are low, further decreases in the wage rates can reduce the returns from resource exploitation. At sufficiently low wages, positive returns can be rendered impossible to achieve and the site is abandoned to a free-access exploitation. The analysis provides some clues as to why property rights may be more difficult to delineate in less developed countries. It proposes a different framework from which to address normative issues such as the desirability of free trade with endogenous enforcement costs, the optimality of private decisions to enforce property rights, the effect of income distribution on property rights enforceability, etc.

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Affiliation: Institut de recherche en immunologie et en cancérologie, Université de Montréal

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Affiliation: Johanne Renaud & Claude Marquette : CHU Ste-Justine, Université de Montréal

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Affiliation: Augustin Zeba & Hélène Delisle : Département de nutrition, Faculté de médecine, Université de Montréal

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Affiliation: Faculté de Médecine Vétérinaire, Université de Montréal

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Affiliation: Département de microbiologie et immunologie, Faculté de médecine, Université de Montréal & Institut de Recherches Cliniques de Montréal

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Affiliation: Henner Brinkmann : Département de biochimie, Faculté de médecine, Université de Montreal

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Affiliation: Louise Potvin: Groupe de recherche interdisciplinaire en santé, Faculté de médecine, Université de Montréal

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Affiliation: Zhujun Ao, Éric Cohen & Xiaojian Yao : Département de microbiologie et immunologie, Faculté de Médecine, Université de Montréal

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Affiliation: Faculté de médecine, Université de Montréal & CANVAC

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Affiliation: Pierre Dagenais : Hôpital Maisonneuve-Rosemont, Faculté de médecine, Université de Montréal

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Affiliation: CHU-Sainte-Justine, Université de Montréal

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Affiliation: Hélène Delisle: Département de nutrition, Faculté de médecine, Université de Montréal