Since 1971 wild horses and burros living on federal land have been legally protected. This protection limits the removal of horses from the range and stipulates restrictive conditions under which removed horses can be transferred to private ownership. The Bureau of Land Management periodically...

Widespread ownership of oil and natural gas resources by private individuals, which is unique to the United States, entitles those citizens to a share of the proceeds from production. This share is typically specified as a royalty rate in leases with producers that is based on gross revenues...

Measurement efforts to reduce the uncertainty concerning the attributes of heterogeneous goods may simply redistribute wealth and result in social waste. Individuals bearing the cost of such distributional measurement have incentives to develop buying and selling practices that limit such...

In his 1973 paper, Steven Cheung discredited the "fable of the bees" by demonstrating that markets for beekeeping services exist and function well. Although economists heeded Cheung's lessons, policy makers did not. The honey program has operated for over fifty years, supporting the price of...