This study presents an incentive scheme to control agricultural nonpoint-source pollution. The analysis is based on a principal-agent framework with two parties: farmers and a regulating authority. Our incentive scheme proposes collective penalties as a way to control pollution. Unlike previous...

The global commons represents a class of environmental problems that require international cooperation. Global environmental problems arise because the actions of some individuals or governments in one location hold serious implications for individuals and governments in other locations. There...

We want to clarify the way in which we think about the global commons, particularly the problem of global warming caused by greenhouse gas emissions and tropical deforestation. We develop a policy framework in which the policy goal is the sustainability of the earth's ability to absorb...