pt. 1. Static efficiency. Cost-benefit analysis and allocative efficiency ; Free trade and environmental protections ; Cost effectiveness and instrument choice -- pt. 2. The economic dynamics of innovation. Innovation's value ; Economic incentives for innovation ; Decision-making structures ; The shape of environmental problems: growth, decentralization, and change over time -- pt. 3. Toward economic dynamic reform. Privatizing environmental law ; Making public environmental decisions more fair and effective ; Improving regulatory design to stimulate change -- pt. 4. Toward economic dynamic legal theory. Static efficiency reconsidered