The paper looks at the global environment as a public good and as a sink for CO2-emissions. It discusses problems to be solved in institutional arrangements to protect global environmental media and looks at criteria for allocating the costs of emission reduction and emission rights. It analyzes...

I Introduction -- 1 The Problem -- 2 Using the Environment—An Allocation Problem -- II Static Allocation Aspect -- 3 Production Theory and Transformation Space -- 4 Optimal Environmental Use -- 5 Environmental Quality as a Public Good -- 6 Property-Rights Approach to the Environmental Problem...