This paper argues that the Kyoto Protocol to the 1992 Framework Convention on Climate Change was doomed to face difficulties ab initio. It explains why this is the case by analyzing the Kyoto Protocol’s shortcomings and deficiencies. Moving the climate change agenda forward multilaterally...

Since first embarking on the road of risk management options for the regulation of recombinant DNA (rDNA) activities and use in 1978, the European Union (EU) has largely failed to create a regulatory and policy environment regarding genetically modified (GM) crops and their cultivation that is...

The paper discusses basic facts and frameworks about the externalities associated with lands covered with forests, such as externalities related to soil and water; biodiversity and genetic resources preservation; carbon sequestration and stock; and aesthetic, option and existence values. The...

The overall goal of this paper is to review policy analysis for subsequent policy changes with a variety of quantitative methods - to improve the impact of trade on rural poverty and environmental sustainability. This study seeks to improve understanding of the relationship between trade...

Groundwater modelling is used to establish liability in complex environmental litigation, where subsurface contamination is at issue. As in all complicated legal actions experts are called upon to establish the validity and the accuracy of a groundwater model. The end result of most, if not all,...

Contrary to the conventional wisdom among economists and legal scholars, command-and-control (CAC) environmental regulations are not inherently inefficient or invariably less efficient than alternative "economic" instruments (EI). In fact, CAC regimes can be and have been efficient (producing...

When strong emotions are triggered by a risk, people show a remarkable tendency to neglect a small probability that the risk will actually come to fruition. Experimental evidence, involving electric shocks and arsenic, supports this claim, as does real-world evidence, involving responses to...

This article explores the tension between antitrust principles and conservation of the marine commons. Part I provides an overview of fishery conservation efforts in theory and practice. As a common pool resource, marine fisheries will fall prey to the "tragedy of the commons" unless consumption...

This study extends the literature by examining the linear and nonlinear effects of natural resource income and the contribution of environmental demands to long-term economic growth in resource-reliant economies (RREs). Data was sourced from 45 RREs from 1970 to 2019 and processed using three...

Pigou (1920) advocated for taxes, set equal to marginal damages, on goods produced and consumed that involve negative externalities. Samuelson (1954) laid out the conditions for optimal pure public goods provision, but noted that free-riding (the “demand revelation” problem) was likely to...