4420 Donald Bren Hall
University of California
Santa Barbara, CA 93106
Member of Economics & Policy Solutions Group
Gary Libecap is interested in common pool resource problems and how property rights institutions (private, group) can or cannot address them. If he finds they have not or have been adopted late, then he is interested in examining the process of institutional change. The motivation for this lies both in the wastes associated with open-access resources and the wide variety of institutional responses that are empirically observed. Moreover, it is often the case that even in the presence of consensus on the size and nature of the open-access problem (Tragedy of the Commons), the problems persist and are addressed only slowly and incompletely. For an economist, this presents a challenge—explaining why externalities persist in some cases or why they are addressed rapidly in others. At the institute, Professor Libecap applies this research to the area of energy efficiency through economic and political initiatives.
Gary Libecap is Donald Bren Distinguished Professor of Corporate Environmental Management in the Donald Bren School of Environmental Science & Management and Professor of Economics at the University ofCalifornia, Santa Barbara. He also is Research Associate at the National Bureau of Economic Research inCambridge, MA., the Sherm and Marge Telleen Research Fellow at the Hoover Institution, Stanford University, and Senior Fellow at the Property and Environment Research Center, PERC, Bozeman, Montana. He received his PhD from the University of Pennsylvania and a BA from the University of Montana. His research focuses on the role of property rights institutions in addressing the “Tragedy of the Commons.” Current research addresses the demarcation of land, water rights and water markets for water allocation and management, and use of rights-based arrangements in fisheries.