Economists have studied various indicators of resource scarcity but largely ignored the phenomenon of “peaking” due to its connection to non-economic (physical) theories of resource exhaustion. I consider peaking from the economic point of view, where economic forces determine the shape of...

Is there a way to understand why some global environmental externalities are addressed effectively whereas others are not? The transaction costs of defining the property rights to mitigation benefits and costs is a useful framework for such analysis. This approach views international cooperation...