Gary D. Libecap is Professor of Corporate Environmental Management in the Bren School of Environmental Science & Management and Professor of Economics at the University of California, Santa Barbara. He also is Research Associate at the National Bureau of Economic Research in Cambridge, MA., Research Fellow at the Hoover Institution, Stanford University, and Senior Fellow at the Property and Environment Research Center, PERC, Bozeman, Montana. He was Pitt Professor of American History and Institutions, Cambridge University, Economics Faculty and Saint Catharine's College, 2010-11. 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 open access losses for natural resources such as fisheries and freshwater, as well as the role of water markets in encouraging efficient use and allocation.