This article measures total factor productivity in industries that exploit resources held in common. Particular attention is paid to the valuation and specification of in situ common-property resources in a neoclassical production technology, catchability of the resource, and variations in...

This article considers the problem of managing multispecies fishing industries as one of regulating the production of individual multiproduct firms. The multispecies New England otter trawl industry is examined within this framework. Empirical results derived from estimating a multiproduct...

Conventional tort law does not allow exposure victims to seek compensation until they develop symptoms of illness. Because this may bar recovery if the injurer is judgment proof, some have advocated allowing victims to sue at exposure. However, critics charge that such a tort for risk would...