This paper analyzes liability issues in the context of internationally traded goods like hazardous waste. If waste disposers of a small open economy are judgement-proof, then the extension of liability to waste exporters distorts the factor allocation and may reduce disposal care. Hence the...

We consider a model where a judgment-proof firm needs finance to realize a project. This project might cause an environmental hazard with a probability that is the private knowledge of the firm. Thus there is asymmetric information with respect to the environmental riskiness of the project. We...

Using a formal political economy model with incomplete information regarding the accident preventing activities chosen by the firm (moral hazard) under limited liability, we illustrate different conditions under which an environmental protection system based on extending liability to private...

In a multi-agent setting, individuals often compare own performance with that of their peers. These comparisons influence agents incentives and lead to a noncooperative game, even if the agents have to complete independent tasks. I show that depending on the interplay of the peer effects, agents...

The commercial development of offshore methane hydrates will necessitate planning for accidental risk. Due to the unique risks and hazards associated with the development of offshore methane hydrates, it is unlikely that their development would be capable of beginning without some form of ex...

A potentially huge untapped resource of natural gas exists just offshore almost every coastal state in the world, the resource called methane hydrates. The opportunities for fiscal revenues, energy security, and freshwater resources will be attractive to many of those states; for many, the...

This paper, a celebratory essay marking the 50th anniversary of the first issue of Environmental Law, the nation's oldest and most comprehensive law student-edited law review, discusses the background of the founding of the journal in 1970 and surveys the many symposia and leading articles it...