Gary D. Libecap is Donald Bren Distinguished Professor of Corporate Environmental Management in the Donald Bren School of Environmental Science and Management and Professor of Economics at the University of California, Santa Barbara. He also is Research Associate at the National Bureau of Economic Research in Cambridge, MA; the Sherm and Marge Telleen Research Fellow at the Hoover Institution, Stanford University; and Senior Fellow at PERC, Bozeman, Montana. His research focuses on the role of property rights institutions in addressing the 'Tragedy of the Commons'. He received his PhD in econo...