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Endnotes

  1. The views expressed are solely those of the authors and do not reflect those of any employer, client, associated consultants, or affiliated organizations.

  2. Externality: "The impact of one person's actions on the well-being of a bystander" (Mankiw, N. Gregory. 1998. Principles of Economics. Fort Worth, Texas: The Dryden Press. pp. 778.

  3. A corridor is a narrow continuous property forming a route connecting two or more points typically under regulated private ownership. This is in contrast to a right-of-way that is a lawful right to cross someone’s property by a specific route, usually under public ownership.

  4. Moral hazard: The danger that if a contract promises people payments on certain conditions, they will change their conduct so as to make these conditions more likely to occur (John Black, 1997. A Dictionary of Economics, New York: Oxford University Press, p. 309).

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