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- W1584792072 abstract "Evolving environmental laws have expanded the number of agents with legitimate environmental property rights. Injunctive reme- dies to increasingly contested exchanges affect the value of the right itself, and therefore the be- havior of potential traders. Recent amendments to New Mexico Water Law provide an excellent op- portunity to explore these effects. We explore the behavior of traders given a decrease in the proba- bility of successfully completing a transaction. Our experiments show traders have a propensity to over-respond to the threat of injunctive reme- dies, and consequently reduce their volume of trades below the privately optimal volume of trades. (JEL K11; Q25)" @default.
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- W1584792072 date "2000-08-01" @default.
- W1584792072 modified "2023-10-14" @default.
- W1584792072 title "Increasingly Contested Property Rights and Trading in Environmental Amenities" @default.
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- W1584792072 doi "https://doi.org/10.2307/3147032" @default.
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