This book addresses the lively interaction between the disciplines of law and economics. The traditional boundaries of these two disciplines have somehow inhibited a full understanding of the functioning of and the evolution of economic and legal systems. It has often been the case that these boundaries have had to be reshaped, and sometimes abolished, before either one of the two disciplines could successfully clarify the real life problems arising from the complex institutions of contemporary societies.

The contributions to this volume encompass some of the core...

This title was first published in 2001. The essays in this volume examine the questions of evaluation processes and enforcement with regards to environmental externalities, stressing the role of institutional failures in dealing with the environment. The essays are divided into three sections: 1 - the complexity of evaluation processes; 2 - the complexity of institutional arrangements; and 3 - evaluation processes and political choice. Overall, the essays argue that the effectiveness of environmental policy depends on the role played by economic institutions in affording and implementing...