Environmental policies generally address problems associated with ill-defined property rights. Our framework describes property rights "regimes" as functions of the degree of consolidation of rights to an asset and of the parties holding those rights. Efficient resource use occurs if welfare...

Cost-effective targeting of conservation activities has only recently been addressed by economists. Most work to date has focused on finding the best locations to set aside land for the protection of biodiversity. An economic approach to the problem, where biodiversity reserve networks are...