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Full-Text Articles in Law
Mindlessness And The Law, Paul J. Heald, James E. Heald
Mindlessness And The Law, Paul J. Heald, James E. Heald
Scholarly Works
No less an authority than Milton Friedman has argued that improving the realism of assumptions in economic theory, although hardly essential to establishing the absolute validity of the theory (purely an empirical question), may offer several benefits. First, a “restructuring” (to use Posner's term) of an assumption may help explain divergences between predicted and observed results. Second, an explanation of why a seemingly unrealistic assumption does not destroy the predictive value of a theory may strengthen the theory by connecting it to “a more general theory that applies to a wider variety of phenomena . . . and has failed …
The Regulation Of Green Advertising: The State, The Market And The Environmental Good, David S. Cohen
The Regulation Of Green Advertising: The State, The Market And The Environmental Good, David S. Cohen
Elisabeth Haub School of Law Faculty Publications
In this paper I explore this most recent development in regulatory policy and, in particular, the role government plays when it chooses to use private markets (consumer, institutional and corporate) as regulatory instruments to produce and allocate environmental benefits. The privatization of environmental regulation by employing markets to deliver environmental benefits does not involve the implementation of public policy through executive or legislative action. Rather, it is achieved through a public choice to privatize the delivery of environmental regulation by permitting or encouraging decentralized economic power to respond to consumer demands for environmental quality.