An Introduction to the Law and Economics of Environmental Policy

by Zerbe; Swanson

• ISBN13: 9780762308880
• ISBN10: 0762308885
• Format: Hardcover
• Copyright: 2002-08-15
• Publisher: Elsevier Science & Technology

Summary

An Introduction to the Law and Economics of Environmental Policy emphasises the importance of institutional design in addressing social problems. Three important issues concerning institutional design are: bull; policies bull; instruments bull; enforcement This volume surveys each of the issues, and emphasises the common themes arising in optimal institutional design. These themes include the cost of complex institutional design, and the role of private institutions attaining social objects. This book will be particularly useful to Law Schools, Departments of Government, Policy or Economics, Environmental Managers and Insurance Companies.

Table of Contents

List of Contributors	ix
Series Editor's Preface	xi
Introduction	1	(26)
Timothy Swanson
SECTION A: THE LAW AND ECONOMICS OF ENVIRONMENTAL POLICY MAKING
PART 1: OPTIMAL PROCEDURE FOR POLICY MAKING
The Aarhus Convention and the Politics of Process: The Political Economy of Procedural Environmental Rights	27	(44)
Susan Rose-Ackerman
Achim A. Halpaap
Comment	65	(6)
Farhana Yamin
PART 2: OPTIMAL INFORMATION FOR POLICY MAKING
Environmental Regulatory Decision Making Under Uncertainty	71	(64)
Richard B. Stewart
Comment	127	(8)
Richard O. Zerbe, Jr.
PART 3: OPTIMAL USE OF ECONOMICS IN POLICY MAKING
Can Law and Economics Stand the Purchase of Moral Satisfaction?	135	(42)
Richard O. Zerbe, Jr.
Comment	173	(4)
Andreas Kontoleon
Individual Preference-Based Values and Environmental Decision Making: Should Valuation Have Its Day in Court?	177	(46)
Andreas Kontoleon
Richard Macrory
Timothy Swanson
Comment	215	(8)
Richard B. Stewart
SECTION B: THE LAW AND ECONOMICS OF INSTRUMENT CHOICE AND DESIGN
PART 1: OPTIMAL INSTRUMENT CHOICE
Toward a Total-Cost Approach to Environmental Instrument Choice	223	(22)
Daniel H. Cole
Peter Z. Grossman
Comment	243	(2)
Anthony Ogus
The Choice of Instruments for Environmental Policy: Liability or Regulation?	245	(38)
Marcel Boyer
Donatella Porrini
Comment	269	(14)
Michael Faure
PART 2: OPTIMAL INSTRUMENT DESIGN
Environmental Damage Insurance in Theory and Practice	283	(48)
Michael Faure
Comment	329	(2)
James Boyd
The Design of Marketable Permit Schemes to Control Local and Regional Pollutants	331	(56)
Jonathan Remy Nash
Richard L. Revesz
Comment	379	(8)
Daniel H. Cole
SECTION C: THE LAW AND ECONOMICS OF COMPLIANCE AND ENFORCEMENT
PART 1: OPTIMAL MONITORING INSTITUTIONS
Monitoring for Latent Liabilities: When is it Necessary and Who Should Do It?	387	(30)
Timothy Swanson
Robin Mason
Comment	413	(4)
Anthony Heyes
Financial Responsibility for Environmental Obligations: Are Bonding and Assurance Rules Fulfilling Their Promise?	417	(76)
James Boyd
Comment	487	(6)
Donatella Porrini
PART 2: OPTIMAL ENFORCEMENT
Pollution and Penalties	493	(26)
Anthony Ogus
Carolyn Abbot
Comment	517	(2)
Richard L. Revesz
Eight Things about Enforcement That Seem Obvious but May Not Be	519	(20)
Anthony G. Heyes
Comment	539
Timothy Swanson