"Understanding and minimizing the transaction costs of policy implementation are critical for reducing tropical forest losses. As the international community prepares to launch REDD+, a global initiative to reduce greenhouse gas emissions from tropical deforestation, policymakers need to pay...

Countries are not equally developed in large part because most countries face sets of property rights that do not foster growth despite the aggregate gains that would result from changing property rights. The difference in rents to society between the extant set of property rights and some...

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...