Examining emerging water quality markets through a collective action lens
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Water quality trading (WQT) is a collective action mechanism increasingly employed to address water quality concerns arising from nonpoint source pollution. Yet, many established WQT programs have experienced little or no trading activity. Collective action theory regarding common property resources (CPR) suggests that the external variables comprising a collective action institution's context dictate how effectively an institution can organize and perform. Because successful emergence is a precursor to successful performance and endurance down the road, understanding how and why external variables ...