Common Resources

Competing Goals in Fishery Management: A Case Study in Alaska

Over the past several decades, fishery management has undergone significant change as nations around the world have implemented catch share programs. Among such programs, individual transferable quotas (ITQs)—a type of catch share that provides a market-based approach—often are designed with multiple objectives in mind. Goals can include ensuring that a fishery’s overall catch is sustainable […]

Ecosystem Services in the Southern Appalachian Mountains

In 1990, the Acid Rain Program introduced market-based environmental policy on the largest scale ever attempted. The program capped the total level of acid rain–causing sulfur dioxide emissions from the US electricity sector and allowed utilities to trade under that fixed cap—a so-called cap-and-trade system. Ironically, though much of the original motivation for that program […]