The financial concept of real options has important consequences in areas of environmental and natural resources law where irreversible decisions are made in the face of uncertainty. This article argues that consideration of real options is necessary to maximize economic return from...

Although much has been written about the ethical implications of choosing to use cost-benefit analysis as a regulatory decision procedure, the ethical choices made “inside” cost-benefit analysis tend to be obscured by the technicality of cost-benefit procedures. Indeed, Congress, courts, and...

The sub-prime mortgage crisis that originated in the United States has triggered a global credit crunch, threatening the solvency of emerging markets that have relied heavily on foreign debt, and resulting in the devaluation of their currencies. Currency market interventions by the central banks...

This paper deconstructs the relationship between harm and pollution, and argues that understanding this relationship creates valuable opportunities for improving environmental policy by minimizing or even eliminating the harm from some pollutants, even when reducing the total amount of pollution...

This Article proposes a new method of reducing the costs administrative agencies incur in monitoring regulatory compliance by a firm that operates multiple sources of risk, such as air-polluting smokestacks. The expense of individually monitoring such sources directly may consume a large share...

The argument that environmental standards must be harmonized among countries involved in free trade in order to ensure a quot;level playing fieldquot; has been prominent in the recent political discourse surrounding globalization and the expansion of international trade. Among academic...