Part II Analytical Tools and Perspectives, Ch.11 An Economic Theory of International Environmental Law

International law, of which international environmental law is a part, shapes and constrains state behaviour. Essentially, it tells states what they are permitted to do, what they are prohibited from doing, and what they are required to do. In this respect, international law is indistinguishable from domestic law. In other respects, however, domestic and international law could not be more different. Domestic law develops and is applied within a vertical system of governance, with a legislature that creates law, a judiciary that interprets law, and an executive...