"We show that grandfathering fishing rights to local users or recognizing first possessions is more dynamically efficient than auctions of such rights. It is often argued that auctions allocate rights to the highest-valued users and thereby maximize resource rents. We counter that rents are not...

This volume, comprised of authors from the U.S., Canada, Africa, and Europe, centers on the development, transformation, and role of geographic /regional economies-- specifically in the globalized, post-2009 era. The authors address topics that every region must consider in responding to idea...

Is there a way to understand why some global environmental externalities are addressed effectively whereas others are not? The transaction costs of defining the property rights to mitigation benefits and costs is a useful framework for such analysis. This approach views international cooperation...