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What is Property Rights and Environmental Externalities about?

This document discusses property rights and externalities as sources of market failure and environmental problems. It explains that property rights should be exclusive, transferable, and enforceable to efficiently allocate resources. However, externalities occur when property rights are not well-defined and agents do not bear all costs of their actions. This can lead to overuse of environmental assets. The document also discusses different property rights regimes and how government and market failures can f

Author

ii mu

Language

EN