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Appropriable rents from Yellowstone Park: A case of incomplete contracting
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The history of Yellowstone Park is best understood in the context of the theory of the firm as developed by Armen Alchian. In the late nineteenth century, the Northern Pacific Railroad recognized the potential amenity rents from Yellowstone and captured them by vertically integrating its monopoly on transportation to the region with the supply of tourist facilities in the park. This gave the railroad de facto ownership of the park that lasted until automobiles were allowed to enter in 1915. T...
Related newspaper, magazine, and journal articles from HighBeam Research
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Reversal for Yellowstone: Immediate Increase in Snowmobile Numbers Setback for Public Health, Conservation of First National Park
U.S. Newswire
; YELLOWSTONE NATIONAL PARK, Feb. 11 /U.S. Newswire/ -- Tuesday's federal court ruling concerning Yellowstone National Park today triggered an immediate decision to allow more snowmobiles into the Park, threatening to reverse recent improvements in air and noise pollution levels. The court ruling and
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Grace under pressure.(125th birthday of Yellowstone National Park)
National Parks
; Yellowstone celebrates Its 125th Birthday in March. Through the years, the trials and tribulations of this Grand Dame have chronicled the maturation of our relationship with the National Park System. In the past 125 years, Old Faithful has spouted on schedule more than a million times, serving as
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The Spirit of Yellowstone: The Cultural Evolution of a National Park
Environmental History
; The Spirit of Yellowstone: The Cultural Evolution of a National Park. By Judith Meyer. Lanham, Md.: Rowman & Littlefield Publishers, 1996. x + 154 pp. $28.So. In The Spirit of Yellowstone: The Cultural Evolution ofa National Park, geographer Judith L. Meyer traces the development of Yellowstone
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Snowmobiling decision at Yellowstone National Park deferred until winter '04.(Tip-Off)(Brief Article)
Parks & Recreation
; The winter season may have ended for Yellowstone National Park, but controversy over snowmobile use will unfortunately continue, with a decision hopefully made before the next winter season begins. When U.S. District Judge Emmet Sullivan passed judgment in late December 2003, effectively banning
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Lack of Funding Threatens World's First National Park; New Business Plan Says Yellowstone Needs Additional $25M Annually, Says NPCA
U.S. Newswire
; HELENA, Mont., July 28 /U.S. Newswire/ -- Yellowstone National Park announced today the results of a comprehensive financial analysis that reveals an annual funding shortfall of $25 million- more than a third shy of the money required to protect the park and meet the needs of nearly three million
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