Innovation in environmental policy: economic and legal aspects of recent developments in environmental enforcement and liability
Traditional regulatory approaches to the environment have been found wanting. As environmental challenges grow and become more complex, it is imperative that we seek efficient solutions to them. Tom Tietenberg s editorship brings together the leading experts in the field in an innovative demonstration of the way forward. David Pearce, University College London, UK . . . the essays are well-written, co-ordinated, and readable. One of the book s strengths is its use of economic and legal analysis on selected environmental enforcement and liability issues. The result is many thought-provoking suggestions that realise questions about the basic goals and assumptions that underlie those policy decisions. Frank F. Skillern, Forum for Applied Research and Public Policy I highly recommend the book for everybody interested in the enforcement of environmental regulations. Ing-Marie Gren, The Beijer International Institute of Ecological Economics This important new book is an indispensable guide to the development and implementation of environmental policy. It presents authoritative analyses and state-of-the-art summaries which will be essential both to scholars and practitioners trying to keep abreast of the most recent developments in this fast changing field. The book sheds new light on two areas of environmental policy - liability law and enforcement which are experiencing dramatic change. It shows how economic analysis can provide useful and meaningful insights about subjects such as criminal penalties, private enforcement, liability for oil spills, tort remedies, and lender liability which have hitherto only been considered by lawyers. Drawing on the latest advances in both economics and law, it critically assesses how the most recent innovations in liability law and enforcement are actually working in practice.
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Introduction and Overview
Theory and Practice
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administrative behavior benefits buyer cent CERCLA citizen suits Clean Air Act Clean Water Act cleanup costs common law compensation compliance contamination convicted corporate Corporate Crime Reporter cost-effective courts criminal sanctions damage assessment deterrence discharge DOI regulations economic effect efficient emissions enforcement actions environmental assessment environmental crimes Environmental Protection Agency environmental risks example expected federal fees fines firm forgone Fund guidelines harm hazardous waste hazardous-waste imposed incarceration incentives increase individual inefficiency injury involving jail sentences judgment-proof lawsuits lender liability liability limits litigation activity marginal costs million monetary monitoring natural resource damages natural resource services negligence noncompliance NRDA liability NRDA regulations nuisance Ohio decision oil spills plaintiffs potential private enforcement problem prosecutions public enforcement reduce regulatory reimbursement remedies restoration costs result role Segerson seller Shavell social costs standard statutes strict liability Tietenberg tort law total sanction trustees victims violations worker