The world of public goods has changed in the last quarter century. Many of the changes have their origins in massively increased human impacts on the biosphere, and in particular on important life support systems such as the carbon cycle, and on resources such as biodiversity, which operate as public goods that are privately provided. These goods have quite particular characteristics that may enhance the possibility of reaching durable international agreements concerning their provision. Adoption spillovers are important in this context: they can mitigate the normal free rider effect associated with public good provision. The private production of these public goods makes it natural to seek to use markets to manage their provision.
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Paper provided by Columbia - Graduate School of Business in its series Papers with number
98-11.
Find related papers by JEL classification: H41 - Public Economics - - Publicly Provided Goods - - - Public Goods Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General
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