Externality problems hinder solutions to existential threats, including climate change and mass extinction. To avert environmental crises, policymakers seek mechanisms that align private incentives with societal exigencies. Successful solutions bring individuals to internalize the broad...

The Dojima Rice Market in Osaka was the first futures market in the world, and an influential role model for modern futures markets. This study examines the efficiency of the original futures market by applying time‐series analysis to data on futures prices from Japan's Tokugawa era...

The size of crime's burden informs the prioritization of crime-prevention efforts and influences our legal, political, and cultural stance toward crime. This research quantifies crime's burden with an estimate of the annual cost of crime in the United States. While most existing studies focus on...

Externality problems hinder solutions to existential threats, including climate change and mass extinction. To avert environmental crises, policymakers seek mechanisms that align private incentives with societal exigencies. Successful solutions bring individuals to internalize the broad...

The growing scarcity of natural capital fuels disputes over borders and use rights. Global industrialisation increases the creation of toxic waste while environmental consciousness intensifies the calls for abatement. Litigation is a costly cure. In the United States of America, expenditures on...

The tenet that harsher penalties could substantially reduce crime rates rests on the assumption that currently active criminals weigh the costs and benefits of their contemplated acts. Existing and proposed crime strategies exhibit this belief, as does a large and growing segment of the crime...