The Extermination and Conservation of the American Bison
AbstractThe dramatic near extinction, and subsequent recovery and restoration, of the American bison during the late nineteenth century is examined using a property rights model of renewable resource production. The paper considers the implications of bison exploitation under open-access, common-ownership, and private-property regimes and further examines how these regimes are determined. Implications are tested against historical and anthropological data on bison populations, robe and hide prices, cattle-stocking rates, American military behavior, Indian tribal territories, federal land policy, the costs of harvesting bison, and formal and informal property rights regimes. The study uncovers the details of this famous story in American wildlife conservation and sheds light on the role of markets in extinction and preservation and the evolution of property rights to such large-scale natural resources. Copyright 2002 by the University of Chicago.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Legal Studies.
Volume (Year): 31 (2002)
Issue (Month): 2 (June)
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- Gary D. Libecap, 2006.
"The Assignment of Property Rights on the Western Frontier: Lessons for Contemporary Environmental and Resource Policy,"
NBER Working Papers
12598, National Bureau of Economic Research, Inc.
- Libecap, Gary D., 2007. "The Assignment of Property Rights on the Western Frontier: Lessons for Contemporary Environmental and Resource Policy," The Journal of Economic History, Cambridge University Press, vol. 67(02), pages 257-291, June.
- M. Scott Taylor, 2011.
"Buffalo Hunt: International Trade and the Virtual Extinction of the North American Bison,"
American Economic Review,
American Economic Association, vol. 101(7), pages 3162-95, December.
- M. Scott Taylor, 2007. "Buffalo Hunt: International Trade and the Virtual Extinction of the North American Bison," NBER Working Papers 12969, National Bureau of Economic Research, Inc.
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