[1] Externalities & Property Rights 

Paper details instructions: Literature review: You are to pick one of the five topic areas below. You are then to select a minimum of three papers in that topic and do a literature review. This means summarizing a group of papers in the field of environmental economics. Further, you must tie the papers together under some common theme. The literature review will identify the contribution each paper makes in the field. In some cases one or more papers may be an extension of another paper in the review; in other cases, two or more papers may offer a differing view. You may include papers not found in the list below, but you must use at least 3 papers listed below in the topic you chose. Your paper must be in the following format: A well developed introduction discussing, in a general way, why you are reviewing the papers you have chosen. Main body of the paper which summarizes the four papers. A good conclusion which reiterates the key contribution of each paper, how they may link together, what are their differences, and what can be taken away from your review of all four papers. Eligible PAPERS for Review [1] Externalities & Property Rights: The Problem of Social Cost Ronald Coase Journal of Law and Economics, pp1-44 Oct. 196 . The Exchange and Enforcement of Property Rights Harold Demsetz Journal of Law and Economics, Vol. 7, (Oct., 1964), pp. 11-26 Some Aspects of Property Rights Harold Demsetz Journal of Law and Economics, Vol. 9, (Oct., 1966), pp. 61-7 The structure of a contract and the theory of a non-exclusive resource Cheung, S.N.S. JLE 1970 pp 49-70

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