Abstract
In this theoretical paper, it is discussed bio-diversity as restricted common property resources. Theoretical debate is included the three strategies for conservation of bio-diversity: privatization, state regulation and community management mechanism. The paper argues that community management mechanism is the most suitable system for conservation of bio-diversity. Community management mechanism makes an effective use of indigenous knowledge systems of the communities that have lived with nature for several generations. Further, local communities have deep knowledge and experience about their bio-diversity area. The characteristics of a community management mechanism are related to the economic, social and cultural traits of each village community.
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