Common property as an egalitarian share contract

Dean Lueck

Research output: Contribution to journalArticlepeer-review

32 Scopus citations


Common property is an endogenous institution and modeled as a joint wealth maximizing egalitarian share contract among an exclusive group of resource owners. The conditions are derived in which common property generates greater wealth than private property. A distinction is made between contracts in which group members share final output and contracts in which groups only share access to a commonly owned resource. In both cases homogeneity in production by members is shown to be efficient. Several case studies of common ownership are presented as support of the model.

Original languageEnglish (US)
Pages (from-to)93-108
Number of pages16
JournalJournal of Economic Behavior and Organization
Issue number1
StatePublished - Sep 1994
Externally publishedYes


  • Common property
  • Contracting
  • Natural resources

ASJC Scopus subject areas

  • Economics and Econometrics
  • Organizational Behavior and Human Resource Management


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