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Addressing Global Environmental Externalities: Transaction Costs Considerations

Gary D. Libecap

NBER Working Paper No. 19501
Issued in October 2013

---- Acknowledgments ----

I have benefitted from detailed comments provided by Janet Currie and three referees, as well as by Eric Edwards, Marc Law, Bryan Leonard, Trevor O'Grady, and Rebecca Toseland who reviewed various drafts. Other useful suggestions were provided by Doug Allen, Lee Alston, Terry Anderson, Chris Costello, Zack Donohew, Ted Groves, Rögnvaldur Hannesson, P.J. Hill, Charles Kolstad, Dean Lueck, Nick Parker, Mary Shirley, and participants in the All Chicago Area Economic History Workshop, May 3, 2012; ISNIE conferences June 14-16, 2012 and June 20-22, 2013; the PERC Lone Mountain Workshop August 6, 2012 and "Tackling the Global Fisheries Challenge" Conference, November 14-15, 2012; and the ASU-MBL Workshop on History of Sustainability Science, Woods Hole, May 16-22, 2013, as well as seminars at Whitman College, October 26, 2011 and Carleton College, May 2, 2013. Literature recommendations were provided by Arun Agrawal, Marty Anderies, Krister Andersson, Stephen Ansolabehere, Susan Aaronson, Mike Bordo, Dan Cole, Tom Evans, Burnell Fischer, Clark Gibson, Doug Irwin, Marco Janssen, Kerry Krutilla Mike McGinnis, Amelia Porges, Amy Poteete, Ty Robbins, Chris Severen, Edella Schlager, Michael Schoon, and David Victor. Excellent research assistance was provided by Serena Canaan, Karin Donhowe, and Andrew Knauer. Research support was given by the Earhart Foundation, the Lone Mountain Fellowship (PERC), and the Hoover Institution's Property Rights Task Force, Stanford. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

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