This may provide a framework for addressing the coordination problems inherent in dealing with worldwide open-access commons, such as the efficacy of antibiotics and other antimicrobials or disease eradication.
Since the formulae applied in our estimates cannot account for such open-access features, the depreciation values reported here are certainly approximations of the real scarcity rents.
With insecure rights, rents can be appropriated by others, which either triggers a race to overdevelop or over harvest open-access resources or to provide less capital than socially optimal.
That can be seen intuitively as being essentially what happens in the open-access situation in which no individual fisher is taking into account the effects of his own actions.
These two benchmark equilibriums, when the resource stock is in steady-state equilibrium, correspond to the open-access and sole-owner bionomic equilibriums traditionally discussed under the bioeconomic framework.
The results of two model scenarios - open-access harvesting and restricted-access harvesting - are compared next in order to assess the within- and outside-fishery impacts of access regulation.
In some cases open-access forests existed in neighbouring areas.
This translates into a trade-off between ontology exchange and the open-access approach.
