Economics typically assumes that injured natural resources are restored along a fixed path of increasing marginal costs. By contrast, many restoration efforts -- such as cleaning a contaminated aquifer or replacing the sand on an oil-tarnished beach -- are characterized by destination-driven...

Ordeals are burdens placed on individuals that yield no direct benefits to others. They represent a dead-weight loss. Ordeals - the most common being waiting time - play a prominent role in health care. Their goal is to direct scarce resources to recipients receiving greater value from them,...