... 2 papayas for a coconut; Harry would be better off if he could give up fewer than 4 papayas for a coconut. If, for example, they agree to trade at the exchange rate of 1 coconut for 3 papayas, ... Indians hunted animals for their skins, the demand and, therefore, the price of animal skins increased. This provided an incentive for the Indians to hunt beyond their demand for meat. Under communal ... government enforcement for the protection and legitimacy of private property rights? Our answer must of necessity be somewhat speculative. We know that markets existed in the “Old West” when formally...