Template-Type: ReDIF-Article 1.0
Author-Name: Manuel Pacheco Coelho
Author-Email: coelho@iseg.ulisboa.pt

Author-Workplace-Name: SOCIUS/ISEG; Instituto Superior de Economia e Gestão/Universidade de Lisboa.
Title: On “commons” and New Institutional Economics: A “precursor” revisited - Jens Warming (1873-1939)
Abstract: In his seminal paper, Gordon (1954) argued that, in a situation of open access and competition, the market would not lead to the most 
	efficient solution in resource use. Almost four decades earlier, in 1911, a Danish economist, Jens Warming, put this issue and made a 
	very similar analysis for the fisheries sector.
	The purpose of this research is to make a reflection on that paper and highlight the proposed explanation for the common property problem.
	This paper studies the legacy of this interesting fisheries economist to the history of economic thought and put in evidence its role as 
	a “precursor” in important topics of investigation of the New Institutional Economics. This research also ask what went wrong and why did 
	the important achievements of Warming’s research had not the justified academic applause and practical impact.
Classification-JEL: Q22, B00.

Keywords: Jens Warming; Fisheries, Open access; Regulation.
Journal: Iberian Journal of the History of Economic Thought
Pages: 135-143
Volume: 3
Issue: 2
Year: 2016
DOI: 10.5209/IJHE.54622
X-File-Ref: http://america.sim.ucm.es/repec/ucm/ref/journal/ijohet16-3-2(135-143).txt
File-URL: https://eprints.ucm.es/id/eprint/50202/1/16-3-2%28135-143%29.pdf
File-Format: Application/pdf
Handle: RePEc:ucm:ijohet:v:3:y:2016:i:2:p:135-143