This paper develops a model of emissions trading in which industrialized countries can exhibit a level of emissions which is more than their quota by buying emission permits from other industrialized countries (which use less than their quota) or "certified emission reductions" from developing...

Climate change is a global problem that needs a comprehensive international response. If countries adopt different measures this may lead to carbon leakage that then leads to further emissions and to competitiveness concerns from those countries that have adopted more stringent measures. One...

This paper uses a calibrated general-equilibrium model of North-South trade with carbon emissions to explore the strategic, open-economy implications of price and quantity based instruments for CO2 emission reduction. We compute non-cooperative environmental and trade policy equilibria and Nash...

Some buyers might prefer not to haggle either because they recognize that the seller they face is likely to be a superior bargainer or because it is easier to comparison shop when prices are known and do not require an investment in transaction costs. Sellers, in turn, might appeal to these...

The Uniform Premarital Agreement Act raised the promise of greater individual freedom in defining intimate relationships. This promise, however, was never realized. Due to a number of practical rather than legal constraints, prenuptial agreements remain rare. Postnuptial agreements contracts...

Antitrust law condemns price-fixing cartels and seeks to encourage private suits against the conspirators by automatically trebling antitrust damages and by providing for joint and several liability. Because the Supreme Court has held that there is no right to contribution among antitrust...