In open-access settings, high-quality resources are lucrative; yet keeping out potential entrants may be extremely costly.
The basic idea was that bottom up, rather than top down, development of property rights, offered a useful tool for analyzing many resource issues.
Economists devote page upon page of their textbooks to discussions of “public goods,” arguing that markets won’t supply them.
The public trust doctrine is a little-known bit of legal history that is now touted as an ancient rule of law that allows governments to control property long presumed to be privately owned.
IFQs improve the health of fish stocks and the broader marine environment. Examining the data on the ecological role IFQs can play.
Hunting and economics meet in South Africa.