The European response to COVID-19 has revealed an inconvenient truth. Despite having integrated public health concerns across all its policies – be it agriculture, consumer protection, or security –, the Union cannot directly act to save people’s lives. Only member states can do so. Yet...

COVID-19 is a matter of common European interest since its very first detection on the continent. Yet this pandemic outbreak has largely been handled as an essentially national matter. This article makes a first attempt at unpacking how such fragmented, uncoordinated national responses to...

The COVID-19 outbreak offers a rich case study of government’s emergency response. As such, it is a test bed for risk research and regulatory theories in a world increasingly shaped by transboundary, uncertain manufactured and natural risks.This introductory essay to the special issue of the...

Despite decades of research on mechanism design and on many practical aspects of cost-benefit analysis, one of the most basic and ubiquitous features of regulation as actually implemented throughout the world has received little theoretical attention: exemptions for small firms. These firms may...

While the idea of ecosystem services is crucial to environmental decision-making, usage of the term "ecosystem services" is haphazard at best. The Millennium Ecosystem Assessment, reflecting the consensus of the largest group of experts ever assembled in the area of ecosystem change, encouraged...

The UK's Treasury's "Stern Review: The Economics of Climate Change" (Oct. 2006) reached dramatically different conclusions and policy recommendations than most earlier economic analyses of climate change. It found that the costs of climate change, as well as the potential net benefits of...

The UK's Treasury's "Stern Review: The Economics of Climate Change" (Oct. 2006) reached dramatically different conclusions and policy recommendations than most earlier economic analyses of climate change. It found that the costs of climate change, as well as the potential net benefits of...

A heated debate has emerged among legal academics over the continued appropriateness of using cost-benefit analysis (CBA) as a decisionmaking tool in federal administrative agencies. Environmentalists and other progressive thinkers argue that regulators should abandon CBA in favor of more...

The Enron scandal has raised questions regarding the adequacy of the present system of financial disclosure. At the same time, public policies increasingly use information disclosure as a regulatory device in a variety of areas beyond financial reporting. This paper provides a framework for...

This chapter provides an economic perspective of environmental law and policy. We examine the ends of environmental policy, that is, the setting of goals and targets, beginning with normative issues, notably the Kaldor–Hicks criterion and the related method of assessment known as...