This paper summarizes and synthesizes the role of markets in facilitating climate change adaptation. It explains how market signals encourage adaptation through land markets. It also identifies impediments to critical market signals, provides related policy recommendations, and points to...

In their book, The Narrow Corridor, Daron Acemoglu and James Robinson contend that prosperity requires a rule of law that threads the needle between anarchy and despotism. We emphasize that creating that rule of law is a process in which society—the citizens of a sovereign state—is in a race...

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 paper summarizes and synthesizes the role of markets in facilitating climate change adaptation. It explains how market signals encourage adaptation through land markets. It also identifies impediments to critical market signals, provides related policy recommendations, and points to...

This paper reviews the literature on economic development as it relates to indigenous people in the United States and Canada, and focuses on how institutions affect economic development of reservation and reserve economies. Evidence shows that strong property rights to reservation and reserve...