Robust Separation:A search for a generic framework to simplify registration and trading of interests in natural resources

Abstract

This report is about the search for an economically efficient and equitable system of defining, allocating, and managing use of natural resources that proves to be robust. Robust in the sense that the fundamental principles and foundations upon which it is based remains unchanged over time. We focus on the notion of “interests” in natural resources, and obligations associated with use. We search for a generic robust approach to the definition of interests, rights and use obligations that sits comfortably within an economically efficient trading system. Pricing and charging issues and the question of how to convert from existing systems to the proposed one are left for subsequent reports.audit;Australia;natural resource management