This dissertation consists of two theoretical papers on market-based environmental policy. The first paper exploits the correlation between the environmental performance of firms and their economic performance to show that financial markets can be used to help enforce environmental policy and to...

ESMA provides further details on trade reporting in updated EMIR Q&AThe European Securities and Markets Authority (ESMA) has issued today updated Question & Answers (Q&As) on the implementation of the European Markets Infrastructure Regulation (EMIR). These updated Q&As clarify, among others,...

Game theoretic modeling involves making assumptions on agents' infinite hierarchies of beliefs. These assumptions are understood to be only approximately satisfied in the actual situation. Thus, the significance of game theoretic predictions depend on robustness properties of the solution...

Many conservation programs offer financialcompensation to farmers in exchange for socially desiredservices, such as soil conservation or biodiversity protection.Realization of the conservation objective at minimum costrequires payments to just cover the extra costs incurred byeach individual...

This paper is a theoretical analysis of incentive setting via civil litigation, with a focus on incentives for care in activities that may be harmful to others (torts). It makes two main contributions: one directly policy-relevant, one conceptual. In most existing research, litigation is modeled...

With the world full of situations in which information that is potentially useful to decision-making is dispersed among various individuals, research into how this information can be efficiently shared has been the focus of a large body of research in recent years. Intuitively, it seems that...

In the first section, a firm with two servers must decide how to dynamically route arriving customers and allocate servers to two separate queues. The servers may work together or separately, and we provide insights into how the firm should optimally route customers and assign servers to queues....

We study a manufacturer's strategic use of a dual-sourcing option when facing suppliers who possess private information about their likelihood of experiencing a supply disruption. The manufacturer can diversify its supply by ordering from both suppliers, but we find that the cost of doing so is...