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Registros recuperados: 49 | |
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Boyd, James. |
Financial responsibility rules are an increasingly common form of environmental regulation. Currently, the operators of landfills, underground petroleum storage tanks, offshore rigs, and oil tankers must demonstrate the existence of adequate levels of capital as a precondition to the legal operation of their businesses. Environmental financial responsibility ensures that firms possess the resources to compensate society for pollution costs created in the course of business operations. In addition to providing a source of funds for victim compensation and pollution remediation, financial responsibility is thought to motivate better decision-making, particularly regarding the management of long-term risks. This article describes both the promise of financial... |
Tipo: Working or Discussion Paper |
Palavras-chave: Financial responsibility; Environmental liability; Waste disposal; Environmental Economics and Policy; Q28; L51; K32. |
Ano: 1996 |
URL: http://purl.umn.edu/10592 |
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Yoder, Jonathan K.. |
Prescribed fire is a useful but risky method for reducing general wildfire risk and improving wildlife habitat, biodiversity, timber growth, and agricultural forage. In the past the fifteen years, laws is some states have been adopted to support the use of prescribed fire. This article examines the effect of liability law and common regulations on the incidence and severity of escaped prescribed fires in the United States from 1970 to 2002. Regression results show that stringent statutory liability law and regulation tends to reduce the number and severity of escaped prescribed fires on private land, but not on federal land where state liability law does not directly apply. |
Tipo: Working or Discussion Paper |
Palavras-chave: Endogenous risk; Prescribed fire economics; Liability law; Resource /Energy Economics and Policy; K32; Q2. |
Ano: 2005 |
URL: http://purl.umn.edu/12964 |
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Dubois, Pierre; Vukina, Tomislav. |
The objective of this paper is to develop an analytical framework for estimation of the parameters of a structural model of an incentive contract under moral hazard, taking into account agents heterogeneity in preferences. We show that allowing the principal to strategically distribute the production inputs across heterogenous agents as part of the contract design, the principal is able to change what appears to be a uniform contract into individualized contracts tailored to fit agents' preferences or characteristics. Using micro level data on swine production contract settlements, we find that contracting farmers are heterogenous with respect to their risk aversion and that this heterogeneity affects the principal's allocation of production inputs across... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Agency Contracts; Optimal Incentives; Moral Hazard; Risk Aversion; Heterogeneity; Production Economics; D82; L24; Q12; K32; L51. |
Ano: 2006 |
URL: http://purl.umn.edu/25568 |
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Boyd, James. |
Financal assurance rules, also known as financial responsibility or bonding requirements, foster cost internalization by requiring potential polluters to demonstrate the financial resources necessary to compensate for environmental damage that may arise in the future. Accordingly, assurance is an important complement to liability rules, restoration obligations, and other regulatory compliance requirements. The paper reviews the need for assurance, given the prevalence of abandoned environmental obligations, and assesses the implementation of assurance rules in the United States. From the standpoint of both legal effectiveness and economic efficiency, assurance rules can be improved. On the whole, however, cost recovery, deterrence, and enforcement are... |
Tipo: Working or Discussion Paper |
Palavras-chave: Financial assurance; Financial responsibility; Bonding; Environmental insurance; Environmental Economics and Policy; K13; Q38; K32. |
Ano: 2001 |
URL: http://purl.umn.edu/10809 |
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Keohane, Nathaniel O.; Revesz, Richard L.; Stavins, Robert N.. |
In the realm of environmental policy instrument choice, there is great divergence between the recommendations of normative economic theory and positive political reality. Four gaps stand out. First, despite the advantages of market-based policy instruments, they have been used to a minor degree, compared with conventional, command-and-control instruments. Second, pollution-control standards have typically been much more stringent for new than for existing sources, despite the inefficiency of this approach. Third, in the few instances in which market-based instruments have been adopted, they have nearly always taken the form of grandfathered tradeable permits, rather than auctioned permits or pollution taxes, despite the advantages in some situations of... |
Tipo: Working or Discussion Paper |
Palavras-chave: Environmental Economics and Policy; L51; H11; P16; K32; Q28. |
Ano: 1997 |
URL: http://purl.umn.edu/10759 |
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Alberini, Anna; Austin, David H.. |
Proponents of environmental policies based on liability assert that strict liability imposed on the polluter will induce firms to handle hazardous wastes properly and to avoid disposing them into the environment. Economic theory and a few well-publicized cases, however, suggest that a number of factors may dilute the incentives posed by strict liability. In this paper, we run regressions relating unintended releases of pollution into the environment (aggregated at the state level, and followed over nine years from 1987 to 1995) to the imposition of strict liability on the polluter, exploiting variation across states in the liability provisions of their mini-Superfund laws, and in the years these were adopted. We experiment with instrumental variable... |
Tipo: Working or Discussion Paper |
Palavras-chave: Strict liability; Toxic spills; Policy endogeneity; Environmental Economics and Policy; Q28; C33; K32. |
Ano: 1999 |
URL: http://purl.umn.edu/10450 |
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Registros recuperados: 49 | |
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