Access the PDF on Canvas of the Bloomberg News article “Markets Don’t Work for Everything download” by Noah Smith from August 10th, 2017.

First, Identify an example of an environmental good or ecosystem service where a market does not currently exist (1 point).
Using the example, carefully explain the following:

CHICAGO STYLE CITATION

What is the market failure? Describe the reason for creating a market in the first place? (2 points)
Identify and discuss at least one (1) pro and one (1) con of creating a market for the environmental good chosen? (2 points)
What are the assumptions needed to make your new market function? (2 points)