Credit Markets, Property Rights, and the Commons

For their helpful comments and discussion we thank Jennifer Alix-Garcia, Toman Barsbai, Brian Copeland, Olivier Deschenes, Viktoriya Hnatkovska, Seema Jayachandran, Hiro Kasahara, Ashley Larsen, Bryan Leonard, Grant McDermott, Kyle Meng, Gordon Munro, Jonathan Proctor, Martin Quaas, Marie-Catherine Riekhof and seminar participants at the Center for Environmental Economics - Montpellier, Simon Fraser University, the University of British Columbia, the University of California, Santa Barbara, the University of Maryland, the University of Massachusetts Amherst and the University of Wisconsin-Madison. Lastly, we are grateful for the feedback at the World Congress of Environmental and Resource Economists in Gothenburg, the International Institute of Fisheries Economics \& Trade conference in Seattle, ASSA Annual Meeting in Atlanta and the AERE Summer Conference in Tahoe. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.