Аннотация
Markets function as institutions where individuals or firms exchange not only commodities but also the rights to use these commodities within specified conditions. The balance of supply and demand determines production levels and market efficiency. However, property rights—granting individuals control over resources such as land and capital—can lead to market inefficiencies by allowing manipulation of market outcomes. These inefficiencies, often referred to as market failures, are further amplified in the context of environmental and natural resource management. Incomplete systems of rights, coupled with the unsustainable use of public goods and natural resources, create significant challenges for market efficiency and environmental sustainability.
This study investigates how property rights influence market efficiency, focusing on their role in the mismanagement of natural resources and public goods. Using a survey of 30 participants, primarily students and middle-aged individuals, the research examines perceptions of legal ownership, its impact on natural market forces, and considerations of environmental effects when using public goods. The findings highlight the critical need for effective governance of property rights to address inefficiencies in resource allocation and promote sustainable environmental management.