The challenge of rural landscape and water quality improvement is investigated as a problem of positive and negative externalities. Based on this analytical background, alternative policy measures are evaluated, and a charge-subsidy scheme with balanced budget is proposed as a cost-effective...

This paper is an account of the institutions of antitrust enforcement and adjudication in nine jurisdictions, across six continents, and the four principal international bodies involved with issues of antitrust. It synthesizes nine studies that illuminate the inner workings of each of systems in...

This essay reports the findings of a comprehensive study of product-liability conflicts cases decided by American courts from 1990 to 2004. One of the findings is that choice-of-law methodology plays a less significant role in the courts' choice of the governing law than other factors, such as...

Agencies are accustomed to considering questions of discounting — the process that makes monetary amounts comparable through time. But valuing the future is a distinctive enterprise for reasons that go beyond discounting. This Article explores two basic features of time that create challenges...

Regulators often go on to lucrative careers either working for, or selling advice to, the industry they previously policed. We investigate the implications of this phenomenon for the design of regulatory institutions. The policy response of cooling-off periods (as used in the UK, US, France and...

A simple auction-theoretic framewoek is used to examine symmetric litigation environmentswhere the legal ownership of a disputed asset is unknown by the court. The court observes only the quality of the case presented by each party, and awards the asset to the party presenting the best case....

We use a hazard model to estimate the effect of environmental regulation on the diffusion of membrane cell production technology in the chlorine manufacturing industry. We estimate the effect of regulation on both the adoption of the membrane technology at existing plants and on the exit of...