TENANCY IN “ANTICOMMONS”? A THEORETICAL AND EMPIRICAL ANALYSIS OF CO-OWNE…

ABSTRACT This article argues that a resource held in tenancy in common is likely to be underused and underinvested, and is thus better characterized as anticommons. Nevertheless, tenancy in common does not necessarily create tragedy, as under most legal regimes each co-tenant has a right to petition for partition at any time, and after partition, new owners are likely to utilize the resour…