Economists and legal scholars have known for decades that "economic instruments," including cap-and-trade regimes and effluent taxes, can reduce emissions at lower cost than command-and-control regulations. Yet, the US system of environmental law remains heavily dominated by command-and-control....

Elinor Ostrom's IAD and SES frameworks are both widely used among social scientists. Each framework suffers from significant problems not shared by the other. For instance, the IAD framework pays insufficient attention to important social and, especially, ecological variables that can affect or...

This is a substantially revised, refocused, and updated version of an earlier draft paper, exploring the significant role Cost-Benefit Analysis (CBA) plays in facilitating or impeding legislative and regulatory policy decisions. The paper centers around three case studies of CBAs EPA prepared...

This short paper written for a symposium issue of the Property Law Review on "Research Methods in Property Law," provides a concise introduction to the ways in which property rights (and duties) structure economic relations and, in turn, are influenced by economic considerations. Among the...