Economics of Environmental Law

The economic approach to environmental law and policy has become the dominant framework for analyzing pollution, resource management and many other environmental challenges throughout the world. This two-volume set presents essential articles from both the leading edge of methodological innovation in environmental law and economics and the bedrock of theory upon which all such innovations are built. The editors' extensive introduction contextualizes the selected papers, highlighting the central theoretical and empirical challenges facing future advancement of this discipline. An impressive collection that is indispensable to policymakers, scholars and those with an interest in the developments in this ever-important field.

Table of Contents:
Contents: Volume I: Theoretical Foundations Acknowledgements Introduction Richard Brooks, Nathaniel O. Keohane and Douglas A. Kysar PART I ROLE OF LAW 1. R.H. Coase (1960), ‘The Problem of Social Cost’ 2. Harold Demsetz (1967), ‘Toward a Theory of Property Rights’ 3. Garrett Hardin (1968), ‘The Tragedy of the Commons’ 4. Guido Calabresi and A. Douglas Melamed (1972), ‘Property Rules, Liability Rules, and Inalienability: One View of the Cathedral’ 5. Robert C. Ellickson (1986), ‘Of Coase and Cattle: Dispute Resolution Among Neighbors in Shasta County’ 6. Carol M. Rose (1991), ‘Rethinking Environmental Controls: Management Strategies for Common Resources’ PART II INSTRUMENT CHOICE 7. William J. Baumol and Wallace E. Oates (1971), ‘The Use of Standards and Prices for Protection of the Environment’ 8. W. David Montgomery (1972), ‘Markets in Licenses and Efficient Pollution Control Programs’ 9. Martin L. Weitzman (1974), ‘Prices vs. Quantities’ 10. A. Mitchell Polinsky (1980), ‘Resolving Nuisance Disputes: The Simple Economics of Injunctive and Damage Remedies’ 11. Louis Kaplow and Steven Shavell (1996), ‘Property Rules Versus Liability Rules: An Economic Analysis’ 12. Richard R.W. Brooks (2002), ‘The Relative Burden of Determining Property Rules and Liability Rules: Broken Elevators in the Cathedral’ PART III IS THE ENVIRONMENT SPECIAL? 13. Kenneth E. Boulding (1966), ‘The Economics of the Coming Spaceship Earth’ 14. John V. Krutilla (1967), ‘Conservation Reconsidered’ 15. Kenneth J. Arrow and Anthony C. Fisher (1974), ‘Environmental Preservation, Uncertainty, and Irreversibility’ 16. Laurence H. Tribe (1974), ‘Ways Not to Think About Plastic Trees: New Foundations for Environmental Law’ 17. John M. Hartwick (1977), ‘Intergenerational Equity and the Investing of Rents from Exhaustible Resources’ 18. Richard C. Bishop (1978), ‘Endangered Species and Uncertainty: The Economics of a Safe Minimum Standard’ 19. Robert Solow (1993), ‘An Almost Practical Step Toward Sustainability’ 20. Richard L. Revesz (1999), ‘Environmental Regulation, Cost-Benefit Analysis, and the Discounting of Human Lives’ Name Index Volume II: Issues and Applications Acknowledgements An introduction by the editors to both volumes appears in Volume I PART I POLICY DESIGN 1. Daniel H. Cole and Peter Z. Grossman (1999), ‘When is Command-and-Control Efficient? Institutions, Technology, and the Comparative Efficiency of Alternative Regulatory Regimes for Environmental Protection’ 2. Lawrence H. Goulder, Ian W.H. Parry, Roberton C. Williams III and Dallas Burtraw (1999), ‘The Cost-Effectiveness of Alternative Instruments for Environmental Protection in a Second-Best Setting’ 3. Carolyn Fischer, Ian W.H. Parry and William A. Pizer (2003), ‘Instrument Choice for Environmental Protection when Technological Innovation is Endogenous’ 4. Juan-Pablo Montero (2005), ‘Pollution Markets with Imperfectly Observed Emissions’ 5. Robert N. Stavins (2006), ‘Vintage-Differentiated Environmental Regulation’ PART II PERFORMANCE OF ENVIRONMENTAL REGULATIONS 6. Robert N. Stavins and Adam B. Jaffe (1990), ‘Unintended Impacts of Public Investments on Private Decisions: The Depletion of Forested Wetlands’ 7. Don Fullerton and Thomas C. Kinnaman (1996), ‘Household Responses to Pricing Garbage by the Bag’ 8. Lisa Heinzerling (1998), ‘Regulatory Costs of Mythic Proportions’ 9. Juan-Pablo Montero (1999), ‘Voluntary Compliance with Market-Based Environmental Policy: Evidence from the U.S. Acid Rain Program’ 10. Michael Greenstone (2004), ‘Did the Clean Air Act Cause the Remarkable Decline in Sulfur Dioxide Concentrations? PART III ENVIRONMENTAL REGULATION AND ECONOMIC ACTIVITY 11. Richard B. Stewart (1993), ‘Environmental Regulation and International Competitiveness’ 12. Adam B. Jaffe, Steven R. Peterson, Paul R. Portney and Robert N. Stavins (1995), ‘Environmental Regulation and the Competitiveness of U.S. Manufacturing: What Does the Evidence Tell Us?’ 13. Vicki Been and Francis Gupta (1997), ‘Coming to the Nuisance or Going to the Barrios? A Longitudinal Analysis of Environmental Justice Claims’ 14. John A. List, Daniel L. Millimet, Per G. Fredriksson and W. Warren McHone (2003), ‘Effects of Environmental Regulations on Manufacturing Plant Births: Evidence from a Propensity Score Matching Estimator’ 15. Meghan R. Busse and Nathaniel O. Keohane (2007), ‘Market Effects of Environmental Regulation: Coal, Railroads, and the 1990 Clean Air Act’ PART IV VALUATION AND COMPARISON OF COSTS AND BENEFITS 16. W. Kip Viscusi (2000), ‘The Value of Life in Legal Contexts: Survey and Critique’ 17. John A. List, Robert P. Berrens, Alok K. Bohara and Joe Kerkvliet (2004), ‘Examining the Role of Social Isolation on Stated Preferences’ 18. Gideon Parchomovsky and Peter Siegelman (2004), ‘Selling Mayberry: Communities and Individuals in Law and Economics’ 19. Kenneth Y. Chay and Michael Greenstone (2005), ‘Does Air Quality Matter? Evidence from the Housing Market’ 20. Martin L. Weitzman (2007), ‘A Review of The Stern Review on the Economics of Climate Change’ Name Index