This article frames environmentally sound innovation in the context of transnational network theory with the goal of setting forth a preliminary framework for international legal policy coherence. I consider how network dynamics can facilitate broad diffusion of environmentally sound...

Due to the recent drop in oil prices, there is a strong interest in the influence of the shale revolution on the global supply and demand of hydrocarbon fuels. Consequently, the attention of many economists and industry analysts is drawn to the technological, institutional and regulatory aspects...

This commentary, which presents an expanded version of the keynote address at the 2012 Conference on ‘Global Climate Change Without the United States’, outlines Palau’s role in attempting to motivate international action on climate change. It explains two initiatives: the passage of a...

Hydraulic fracturing has been a game changer for the energy field, bringing to mind the “nothing in excess” carving at Delphi. Whether heeding ancient oracles or cutting-edge principles of calibration, I argue that dynamic governance innovation can facilitate climate-energy-water balancing...

In this paper, foreign aid transfers can distort individual incentives, and hence hurt growth, by encouraging rent-seeking as opposed to productive activities. We construct a model of a small growing open economy that distinguishes two effects from foreign transfers: (i) a direct positive...

Costly competitions between economic agents are modeled as contests. Researchers use laboratory experiments to study contests and test comparative static predictions of contest theory. Commonly, researchers find that participants' efforts are significantly higher than predicted by the standard...

Why did the Beatles become a worldwide sensation? Why do some cultural products succeed and others fail? Why are some musicians, poets, and novels,, unsuccessful or unknown in their lifetimes, iconic figures decades or generation after their deaths? Why are success and failure so unpredictable?...

We review the theory of information cascades and social learning. Our goal is to describe in a relatively integrated and accessible way the more important themes, insights and applications of the literature as it has developed over the last thirty years. We also highlight open questions and...

This paper studies electoral competition over redistributive taxes between a safe incumbent and a risky opponent. As in prospect theory, economically disappointed voters become risk lovers, and hence are intrinsically attracted by the more risky candidate. We show that, after a large adverse...

We study social learning, conformity, and differentiation within and across groups (Scots and English in the UK; political blocs in Israel). Our experiments cross-randomize observed ingroup and outgroup norms in several domains. Results show that, overall, individuals follow their ingroup much...