The present paper provides an economic analysis of vicarious liability that takes information rents and monitoring costs to be borne by the principal explicitly into account. In the presence of information rents or if the principal is wealth constrained herself, vicarious liability need not...

Economic, agronomic, and biophysical drivers affect global land use, so all three influences need to be considered in evaluating economically optimal allocations of the world's land resources. A dynamic, forward-looking optimization framework applied over the course of the coming century shows...