Anti-Commons Theory is a very recent development in the area of property rights. It intends to explain why an "anti-commons" emerges and why resources may be prone to underuse. In an anti-commons situation there are too many exclusion rights that lead to the under-use of resources. In Portugal, too many people (and institutions) have been involved in the approval processes of aquaculture projects. They may be involved in reaching a decision about the approval of a project which gives rise to the under-utilization of the resources promoters aimed to exploit. In fact, it takes so long to approve a project that the time required for its implementation is excessively delayed.

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Anti-commons,Anti-commons tragedy,Property rights,Exclusion rights