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[…] The challenge, therefore, is not to simply “price” something but to discover what its price is. Rather than imposing prices based on the ordained judgments of central planners—as is often done with environmental resources—markets provide the rough-and-tumble process of price discovery that helps solve Hayek’s “knowledge problem.” The free-market contracting that we’re experimenting with […]

An in-depth look at the past and future of U.S. federal coal policy.

[…] illness and save lives. But careful analyses of past EPA ozone rules suggest that the new standards are unlikely to live up to the agency’s promises. A study by Vernon Henderson (1996) documents one such analysis. During the early decades of EPA’s ozone rules, the agency focused on peak levels of ozone—measured by one-hour […]

Informal tenure and rights-based fishing in nearshore waters offer a more positive outcome to the no-longer-tragic “commons” of the ocean.

How free trade and free migration can help us adapt to climate change.

How free markets and urban growth facilitate climate change adaptation.

This special issue of PERC Reports explores how markets can help us adapt to climate change now and in the future.

[…] will likely involve a combination of the two. Identifying the trade-offs between the array of financial and physical options available is an ongoing and innovative area of study. The Future of Adaptation As a commodity, corn has obvious advantages that make it especially adaptable in financial markets: It can be stored. It can be […]

Federal policies often discourage developers from doing business on Native American reservations, denying tribes the opportunity to benefit from projects such as the Dakota Access Pipeline.

[…] future access to necessary water. Defining clear, enforceable, and transferable water rights could help ensure that water is allocated to its most productive uses and finally put an end to this water war. This article originally appeared in the Orlando Sentinel on November 26, 2016. For more, see “Averting Water Disputes: A Southeastern Case Study,” published by PERC.