Hare and hedgehog revisited: the regulation of markets that have escaped regulated markets

Article Abstract:

A dynamic approach is needed to understand the impact of regulation, rather than the static approcah which tends to be used in analyses of this subject. New institutional markets can be established which are not bound by existing regimes, and these have been described as hedgehogs. German courts have tended toward a more interventionist stance than courts in the US, but there is often a favorable approach toward hedgehogs. There are costs involved in using a different approach, but there is no clear case for stricter controls.

Laws, regulations and rules, Markets (Economics)

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International environmental agreements: how the policy instrument affects equilibrium emissions and welfare

Article Abstract:

There needs to be joint agreement on abatement targets where attempts are made at pollution control at an international level. Two countries may differ in terms of their environmental preferences and abatement costs, and their negotiations can be analyzed using a 'behavioristic bargaining model'. Real-world restrictions apply, and abatement targets selected are often not Pareto-efficient. Model parameters affect whether welfare is improved and emissions are reduced by permit or tax regimes.

Sanitary Services, Control, Environmental policy

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Assigning the liability for past pollution: lessons from the US mining industry

Article Abstract:

There is a debate as to who should pay for pollution by firms. US legislation has tended toward the notion that firms should pay for the impact of their past activities. Firms acquired in Eastern Europe may have liabilities involved for companies that acquire them. The issue can be examined in terms of what is most efficient, or what is most equitable. A study of the US coal mining industry indicates that both criteria are better served if the state tackles the environmental damage.

Coal, Coal Mining

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