Reply to Phelps et al: Liability rules provide incentives to protect natural capital

Stephen Polasky¹, Anne D Guerry², Jane Lubchenco³+1

• ¹Institute on the Environment, University of Minnesota, St. Paul, MN 55108; Department of Applied Economics, University of Minnesota, St. Paul, MN 55108; The Natural Capital Project, University of Minnesota, St. Paul, MN 55108; polasky@umn.edu.+2