Transaction costs and risk have generally not been taken into account in assessing the Kyoto mechanisms JI, CDM and emissions trading. However, they can have a significant influence. With regard to the project-based mechanisms, the factor that most determines the influence of transaction costs...

The dominant justification for intellectual property rights at least in the West and international treaties is utilitarian, and more precisely based on the Chicago School of Law and Economics (first section). However, this school of thought is both flawed and ideological (second section). Basing...

The Chicago School of the law and economics movement, on which the predominant justification for independent property rights is based in most countries, is flawed mainly because it takes economic wealth as the sole proxy for well-being. We suggest replacing it with a well-being approach, which,...