‘Quis custodiet ipsos custodes?’ asked the Roman poet Juvenal - ‘who will watch the watchers, who will guard the guardians?’ As legislative and regulatory processes around the globe progressively put greater emphasis on impact assessment and accountability, we ask: who oversees the...

This paper is a draft of a chapter for a forthcoming book, Public Choice and Public Law, edited by Daniel Farber and Anne Joseph O'Connell, to be published by Edward Elgar. This chapter reviews the literature on the selection of regulatory policy instruments, from both normative and positive...

The idea of cost-benefit analysis has been spreading internationally for centuries — at least since an American named Benjamin Franklin wrote a letter in 1772 to his British friend, Joseph Priestley, recommending that Priestley weigh the pros and cons of a difficult decision in what Franklin...

This paper addresses the choice of regulatory instrument for international control of global climate change. First, it examines the efficiency attributes of options including harmonized policy measures, international emissions taxes, and quantitative emissions reductions with internationally...