International Journal of Finance, Insurance and Risk Management ISSN: 2672-832Χ

An Application of the Anti-Commons Theory to an Elderly Nursing Home Project in Portugal

José Lamelas, José António Filipe
International Journal of Finance, Insurance and Risk Management, Volume 4, Issue 2, 746, 2014
DOI: 10.35808/ijfirm/96

Abstract:

The present study evaluates the consequential economic and ethical problems which occur when bureaucracy is present in companies’ projects evaluation by governmental agencies. The delay of projects approval generates loss of value once projects may not be implemented or are implemented after the suitable time. Theory of anti-commons is presented in the contextualization of the problem. As seen in this study, when an “anti-commons” emerges, resources may be prone to under-use. In an anti-commons situation there are too many entities deciding what may lead to the under-use of the resources. In Portugal, bureaucracy in projects approval contributes to such a situation of anti-commons. The present study analyses a project for the construction of an elderly nursing home, for which is necessary a permit to be obtained from the Portuguese government. This study is made according to the framework of the anti-commons theory.


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