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Winter Storm Uri sent shockwaves through Texas, freezing gas supplies at a time of critical need and plunging the state into widespread power outages. In the aftermath, the courts have been flooded with force majeure claims,...more
The use of factual/counterfactual comparisons—that is, estimating the difference between what actually happened and what would have happened absent an event—is a fundamental tool in the economists’ work box in the context of...more