Subject(s): Natural resources Management. -- Rationale and scope of local level resource management lessons from economic theory -- natural resource and economic growth and sustainability : Reproducibility, Individual rationality -- Tragedy of the commons : Open access, common property, Lindahal equilibrium -- Property rights school solution - Privatization programme -- Unregulated common property : Private contracting , Decentralized punishment - Spontaneous co-operation in repeated PD games -- Co-ordination and leadership in the unregulated common property- Game theory : Unilateral contribution, Co-ordination contribution, Heterogeneous situations with PD,AG, CG players -- Moral norms and co-operation : Self-interest, Social devices -- Possibility of co-operation- lessons from experimental social psychology -- Regulated common property : regulated common property, Privatization of common property resources -- Feasibility of local level resources management: empirical assessment -- Recent changes affecting collective actions at village level -- Conditions for successful collective action : economic incentives -- Co-management as a new approach to regulation of common property resources