On Appraising Environmental Institutions

J. A. Seagraves

American Journal of Agricultural Economics, 1973, vol. 55, issue 4_Part_1, 617-621

Abstract: Changing relative prices and conditions of profitability lie behind many demands for new institutions. The emerging nature of environmental disequilibria suggests that allocative effects of alternative institutions can be studied before the difficult question of income distribution. "Externalities" are viewed as joint products, one of which is not priced.

Date: 1973
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