This paper examines, empirically, the mechanism by which a voluntary pollution reduction program (VPR) achieves pollution reductions. We find that participation in the 33/50 program, the U.S. Environmental Protection Agency’s first VPR, spurred the adoption of total quality environmental...

Before governments can "take" private property, property owners can often alter the public use value. This article models this capability and studies its implicationsf or takings compensation. Tying compensation to private land values generally does not prompt efficient land use practices. Tying...

This paper studies a drinking water market in which a water company, faced with random contamination, chooses a treatment system, treatment levels, and whether to notify consumers that they should drink bottled water rather than risk exposure to contaminants in the tap water. The paper describes...