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Vol 23 No 6 June/July 2018

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Cover of Drafting Commercial Agreements

Drafting Commercial Agreements

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Desmith out now
Data protection handbook

Pollution and Property: Comparing Ownership Institutions for Environmental Protection

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Daniel H. ColeIndiana University

ISBN13: 9780521806374
ISBN: 0521806372
Published: June 2003
Publisher: Cambridge University Press
Country of Publication: UK
Format: Hardback
Price: Out of print
Paperback edition , ISBN13 9780521001090

Environmental protection and resource conservation depend on the imposition of property rights (broadly defined) because in the absence of some property system - private, common, or public - resource degradation and depletion are inevitable. But there is no universal, first-best property regime for environmental protection in this second-best world. Using case studies and examples taken from countries around the world, Professor Cole demonstrates that the choice of ownership institution is contingent upon institutional, technological, and ecological circumstances that determine the differential costs of instituting, implementing, and maintaining alternative regimes. Consequently, environmental protection is likely to be more effective and more efficient in a society that relies on multiple (and often mixed) property regimes. The book concludes with an assessment of the important contemporary issue of 'takings', which arise when different property regimes collide.

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Environmental Law
1. Pollution and property: the conceptual framework; 2. Public property/regulatory solutions to the tragedy of open access; 3. Mixed property/regulatory regimes for environmental protection; 4. Institutional and technological limits of mixed property/regulatory regimes; 5. The theory and limits of free market environmentalism (a private property/nonregulatory regime); 6. The limited utility of common property regimes for environmental protection; 7. The complexities of property regime choice for environmental protection; 8. When property regimes collide: the 'takings' problem; 9. Final thoughts.