Abstract

Property rights to natural resources define privileges and responsibilities in the use of environmental goods and services. They specify the way people are to behave toward one another as they use and conserve environmental resources. This chapter describes the form and function of property rights in general and discusses the relation of property rights to biodiversity in particular. This discussion summarizes what is known about the potential and limitations of property rights to protect biodiversity. It also examines the considerable uncertainty that exists with respect to the design of property rights for biodiversity protection.