Commons as insurance and the welfare impact of privatization

  title={Commons as insurance and the welfare impact of privatization},
  author={Jean-Marie Balanda and Patrick Francoisb},
  • Jean-Marie Balanda, Patrick Francoisb
  • Published 2004
It is shown here that, despite the efficiency gains from privatization, when markets are incomplete, all individuals may be made worse off by privatization, even when the resource is equitably privatized. Such market incompleteness is common in the developing world and can explain the often encountered resistance to efficiency enhancing privatizing reforms, especially in the case of village level landholdings and forests. The advantage of common held property arises because of its superior… CONTINUE READING
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