Working Paper WP98-1 January 1998 Externalities, Risk and the Private Property-Overgrazing Paradox: The Case of Private Cattle Farms in Nyabushozi County, Western Uganda by Dick Sserunkuuma and Kent Olson Center for International Food and Agricultural Policy University of Minnesota 332 ClaOff Building 1994 Buford Avenue St. Paul, Minnesota 55108-6040 U.S.A. Phone: (612) 625-8713 FAX: (612) 625-6245