Renewable Natural Resources: A Framework for Analysis

Abstract
"Intuitively we think of renewable resources as animal and plant species, e.g., wildlife, fish, pasture grasses, trees and shrubs. When we consider other renewables, such as water and soils, we think about them as physical goods having certain properties. Water is liquid and flows downhill under the pressure of gravity. It can be pure or polluted, scarce, abundant or over abundant. Soils, similarly, may be rich or poor depending on their chemical and organic composition, good at soaking up and then releasing moisture (loams) or prone to retain it (clay soils) or porous (sandy soils). These common place observations reflect experienced realities and are critically important in classifying renewables and grasping how they work."
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Keywords
policy analysis, institutions, common pool resources, public goods and bads, property rights, scale, size, Workshop
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