The reality of protected area management is that enforcing forest and parkboundaries is costly and so most likely incomplete, due in part to the pressures exerted on the boundaries by local people who often have traditionally relied on the park resources. Buffer zones are increasingly being...

In California, the tremendous spatial and temporal variation in precipitation suggests that flexible contractual arrangements, such as option contracts, would increase allocative efficiency of water over time and space. Under such arrangements, a water agency pays an option premium for the right...