The end ofWorld War II marked the birth of the modern chemical industry. From that time synthetic rubbers, fibers, and complex organohalogens have been produced in large commercial quan- tities, such that each member of modern society is exposed to chemicals of exotic physiocheniical activity....

Law is a set of commands; the principles of tort or criminal law, which we shall be dealing with, are negative commands or prohibi- tions, on the order of “thou shalt not†do actions, X, Y, or Z.1 In short, certain actions are considered wrong to such a degree that it is considered...

In 1972 Congress established the Federal Water Pollution Control Act in which the Environmental Protection Agency was given responsibility to “restore and maintain the chemical, physical, and biological integrity of the nation’s waters.’’ Two national goals of...

What is pollution? According to Peter H. Aranson, “Public policy regards as pollution any man-made or naturally occurring substance (for example, smoke or sewage) or condition (for exam- ple, noise, heat, or radiation) that is believed to threaten human health or economic welfare...

T0 the practical mind, particularly one trained in economics, it might sound a trifle paradoxical to suggest that the truly important issues in a public policy debate have nothing to do with the relative efficacy of the policy options. Paradoxical or not, this is very often the case. And there...

Competition in hospital care is often implemented through mixed markets where public and private hospitals compete for patients. The optimality of this market form has long been debated in the literature. In this paper, we investigate the role of soft budget constraint in affecting patient...

The paper presents the differences between the design of a closed and an open team sports league. Then it compares the theoretical models of a closed league with profit maximizing clubs and an open league with win maximizing clubs. Both models are now outdated by a Nash equilibrium model which...

This paper focuses on how to deal with environmental problems, through the lenses of the New Institutional Economics. The emphasis is on the intertwined role of organizational solutions and their institutional settings. This is not to say that technological solutions to environmental problems...

The management of agricultural price volatility in developing countries is at the heart of policy debates. Building upon the recent experiences of Madagascar, Mali and Zambia, we show that the efficiency of policies to manage price volatility depends on the way policies have been defined and...