The Clean Air Act requires "New Source Review" -- the installation of specific state-of-the-art pollution control equipment when and only when a new polluting plant is constructed, or a "modification" is undertaken on an existing plant. Shi-Ling Hsu argues that this "grandfathering" policy slows...

Capital, one of two fundamental inputs to production, is critical to economic growth. As such, legal rules and institutions generally seek to create more of it, and also seek to protect existing capital. However, capital is often durable, and during the natural life of capital, information may...

This chapter explores the use of prediction markets to generate, collect, and process information relating to a variety of environmental problems. Prediction markets, artificially constructed markets for contracts for contingent payoffs, have been used to generate projections of future...

Climate policy in the United States always seems to face strong political headwinds. It is not so much that voters dismiss the threat of climate change, or that they believe climate change is a "hoax," but coming up with a fair and effective policy has always seemed so daunting. This Article...

Global climate change poses an existential threat to human civilization because it disrupts the supply of natural resources that provide basic life staples – water, food, and energy. If humankind is unable to adapt to a less abundant and less predictable supply of resources, then the effective...