Paper removed by author 02/04/09.

Transferable allowance management systems are receiving increased attention from fishery managers and stakeholders alike. We use a laboratory experiment in which human subjects play the role of fishers to evaluate the promised economic efficiency of tradable allowance systems. In an experiment...

Agriculture conventionally supplies food, fiber and fuel that consumers can purchase through the market. With the right incentives, farmers can also provide ecosystem services such as wildlife habitat, climate regulation, surface water flows and waste absorption and breakdown. Such incentives...

Paper removed by author 02/04/09.

The objective of this paper is to illustrate that economic institutions matter, i.e., that different rules of trade present different incentives for bidding, asking, and trading in new markets, and that these different incentives lead to different price discovery patterns, which yield materially...