I quantify the welfare effects of international trade in waste. I build a structural gravity model in which waste generation is a byproduct of manufacturing and waste is input to recycling. My estimates reveal that low-value waste is more sensitive to trade barriers than high-value waste, while...

Politicians may pander to public opinion and may renounce undertaking beneficial long-term projects. To alleviate this problem, we introduce a triple mechanism involving political information markets, reelection threshold contracts, and democratic elections. An information market is used to...