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- Faculty Scholarship (6)
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- Navigating the Future of the Colorado River (Martz Summer Conference, June 8-10) (4)
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- Best Management Practices (BMPs): What? How? And Why? (May 26) (1)
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Articles 31 - 33 of 33
Full-Text Articles in Law
Macro-Risks: The Challenge For Rational Risk Regulation, Michael P. Vandenbergh, Jonathan A. Gilligan
Macro-Risks: The Challenge For Rational Risk Regulation, Michael P. Vandenbergh, Jonathan A. Gilligan
Vanderbilt Law School Faculty Publications
Drawing on the recent financial crisis, we introduce the concept of macro-risk. We distinguish between micro-risks, which can be managed within conventional economic frameworks, and macro-risks, which threaten to disrupt economic systems so much that a different approach is required. We argue that catastrophic climate change is a prime example of a macro-risk. Research by climate scientists suggests disturbingly high likelihoods of temperature increases and sea level rises that could cause the kinds of systemic failures that almost occurred with the financial system. We suggest that macro-risks should be the principal concern of rational risk assessment and management, but they …
United States Of America, Michael B. Gerrard, Gregory E. Wannier
United States Of America, Michael B. Gerrard, Gregory E. Wannier
Faculty Scholarship
The prospect of carbon liability in the United States is a relatively recent phenomenon. It is only in the last decade that US environmental lawyers and policy-makers have begun to turn their attention to climate change, as climate-related litigation has surged, government action on several fronts has begun, and climate change has generally been recognised as a factor to consider in decision-making across the economy. This chapter lays out existing options to establish liability for greenhouse gas (‘GHG’) emissions along legislative, regulatory and judicial channels.
Gaming The Past: The Theory And Practice Of Historic Baselines In The Administrative State, J.B. Ruhl, Robin Craig
Gaming The Past: The Theory And Practice Of Historic Baselines In The Administrative State, J.B. Ruhl, Robin Craig
Vanderbilt Law School Faculty Publications
This article explores in detail the attributes and operation of historic baselines. That historic baselines are found throughout regulatory law is no accident. Particularly when the policy goal involves turning back the clock or halting an undesirable trend, historic baselines have distinct advantages compared to alternative techniques for standard setting. These advantages include rhetoric, familiarity, and flexibility. The use of the temporal reference point lies at the heart of what makes historic baselines distinct in this respect, yet it is also what makes them qualitatively different for purposes of gaming. Leveraging the past provides an additional dimension to the gaming …