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Full-Text Articles in Law
The Case For Corporate Climate Ratings: Nudging Financial Markets, Felix Mormann, Milica Mormann
The Case For Corporate Climate Ratings: Nudging Financial Markets, Felix Mormann, Milica Mormann
Faculty Scholarship
Capital markets are cast as both villain and hero in the climate playbill. The trillions of dollars required to combat climate change leave ample room for heroics from the financial sector. For the time being, however, capital continues to flow readily toward fossil fuels and other carbon-intensive industries. Drawing on the results of an empirical study, this Article posits that ratings of corporate climate risk and governance can help overcome pervasive information asymmetries and nudge investors toward more climate-conscious investment choices with welfare-enhancing effects.
In the absence of a meaningful price on carbon, three private ordering initiatives are trying to …
Beyond Algorithms: Toward A Normative Theory Of Automated Regulation, Felix Mormann
Beyond Algorithms: Toward A Normative Theory Of Automated Regulation, Felix Mormann
Faculty Scholarship
The proliferation of artificial intelligence in our daily lives has spawned a burgeoning literature on the dawn of dehumanized, algorithmic governance. Remarkably, the scholarly discourse overwhelmingly fails to acknowledge that automated, non-human governance has long been a reality. For more than a century, policymakers have relied on regulations that automatically adjust to changing circumstances, without the need for human intervention. This article surveys the track record of self-adjusting governance mechanisms to propose a normative theory of automated regulation.
Effective policymaking frequently requires anticipation of future developments, from technology innovation to geopolitical change. Self-adjusting regulation offers an insurance policy against the …