Common-Property Arrangements and Scarce Resources (eBook, PDF)

Water in the American West

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It is widely held that private ownership is the preferred end state for all scarce resources. Those who hold this view have not looked closely enough at water in the American West, Barbanell contends. Because of water's special attributes, private ownership is an ineffective means for protecting individuals interests. Splitting the various rights of ownership between individual resources users and the community to which they belong can better protect those interests. Barbanell develops a conception of this form of common ownership, a common-property arrangement, and shows that it can function ...