The paper is an exercise in a normative economic analysis of product liability. After a short historical introduction, we take two of the basic premises of Austrian economic thought and see which system of product liability results. If costs are subjective and entrepreneurship is the essence of...

We propose a test of the Porter hypothesis for the Dutch horticulture sector, using a stochastic production frontier analysis allowing for an inclusion of policy variables to account for the effect of environmental policy of firm performance. We find considerable heterogeneity in the way firms...

This article summarizes Walter Isard’s important contributions to environmental economics and ecological economics. The former is the traditional field that incorporates some limited aspects of the environment into neoclassical economic theory, while the latter is a more comprehensive...