1. Excludability - Do these resources have exclusive, transferable property rights? If not, they will not be supplied by the market, or alternatively, the market will show no concern for their loss
2. Rivalness - Does the use of the resource by one person decrease the quantity or quality left for someone else to consume? If not, the marginal cost of an additional user is zero, and the efficient price is zero. The market should not allocate these resources
3. Externalities - Does the production or consumption of these resources by one actor have an uncompensated positive or negative impact on another actor? If so, the market will not allocate the resource efficiently.
4. Missing markets - Will future generations depend on this resource to maintain an adequate quality of life? If so, it must be preserved, or a substitute must be developed.

Papers and Reports

Data

Models