When it comes to protecting fisheries, not all property rights are created equal.
A cautionary tale of ozone regulation
Just as the market brought the bison to near extinction, so too has it brought them back from the brink.
Property rights are essential for market exchange. The definition of those rights, their enforcement, and their transferability all help determine the extent of trade and the rate of economic development and wealth creation.
Waterborne diseases are responsible for 20 percent of deaths in children under the age of five. Microbes such as E. coli found in fecal matter cause diarrhea that kills by dehydrating its victims.
Economist, n. a scoundrel whose faulty vision sees things as they really are, not as they ought to be. —after Ambrose Bierce
Todd Ben-Dor, a 2010 PERC Lone Mountain Fellow, examines the U.S. ecosystems services market that requires environmental restoration to offset aquatic resource damages. As the need for mitigation banking increases, he has studied forces affecting this growing market.
In open-access settings, high-quality resources are lucrative; yet keeping out potential entrants may be extremely costly.
This research empirically investigates cooperative behavior in a natural resource extraction industry in which the provision of a public good (bycatch avoidance) in the Alaskan flatfish fishery is essential to the duration of the fishing season, and an information provision mechanism exists to...