 Another problem in debates about markets is the following: If critical arguments against markets are raised, defenders of markets sometimes hold that the ills should not be blamed on markets, but rather on the surrounding institutions, because the conditions that would need to hold for markets to do their beneficial work are not fulfilled. For example, when markets are criticized for leading to an overconsumption of natural resources, defenders of markets often point out that there are no full property rights for many environmental goods. If environmental goods had a price, it would be expensive to use them, and their owners would have incentives to treat them in responsible ways (see e.g., Tomasi’s reply to the “tragedy of the commons” (2012, 259ff.)). One might retort, however, that in many cases having such property rights would not solve the problem, because the transaction costs of finding bargaining solutions would be too high. Such examples show that the value of concrete markets can often not be discussed in purely abstract terms – what they are and what effects they have crucially depends on the institutions that surround them. These will be discussed next.