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The Limitations of Legal Institutions for Addressing Environmental Risks

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  • Peter S. Menell
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    Abstract

    This article assesses the major systems of environmental liability in the United States—the toxic tort system and Superfund. The discussion of each of these areas first lays out the scientific background of the environmental problems and the applicable regulatory regime. It then analyzes the efficacy of these regimes for addressing environmental problems and suggests alternative institutional designs for better promoting the goals of equitable and cost-effective compensation of disease victims and efficient deterrence and remediation of environmental degradation.

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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.5.3.93
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    Bibliographic Info

    Article provided by American Economic Association in its journal Journal of Economic Perspectives.

    Volume (Year): 5 (1991)
    Issue (Month): 3 (Summer)
    Pages: 93-113

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    Handle: RePEc:aea:jecper:v:5:y:1991:i:3:p:93-113

    Note: DOI: 10.1257/jep.5.3.93
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    Cited by:
    1. Marcel Boyer & Donatella Porrini, 2002. "Modeling the Choice Between Regulation and Liability in Terms of Social Welfare," CIRANO Working Papers 2002s-13, CIRANO.
    2. Tracy R. Lewis, 1996. "Protecting the Environment When Costs and Benefits Are Privately Known," RAND Journal of Economics, The RAND Corporation, vol. 27(4), pages 819-847, Winter.
    3. Levinson, Arik & Shetty, Sudhir, 1992. "Los Angeles, Mexico City, Cubatao, and Ankara - Efficient environmental regulation : case studies of urban air pollution," Policy Research Working Paper Series 942, The World Bank.
    4. Mason, Robin, 2004. "Dividends, safety and liquidation when liabilities are long-term and stochastic," European Economic Review, Elsevier, vol. 48(6), pages 1179-1210, December.
    5. Thomas J. Miceli & Kathleen Segerson, 2004. "Punishing the Innocent along with the Guilty: The Economics of Individual versus Group Punishment," Working papers 2004-37, University of Connecticut, Department of Economics.
    6. Trebilcock, Michael & Winter, Ralph A., 1997. "The economics of nuclear accident law," International Review of Law and Economics, Elsevier, vol. 17(2), pages 215-243, June.
    7. Lichtenberg, Erik, 2002. "Agriculture and the environment," Handbook of Agricultural Economics, in: B. L. Gardner & G. C. Rausser (ed.), Handbook of Agricultural Economics, edition 1, volume 2, chapter 23, pages 1249-1313 Elsevier.
    8. Barak Richman & Chris Boerner, . "A Transaction Cost Economizing Approach To Regulation: Understanding Government Responses To The Nimby Problem," American Law & Economics Association Annual Meetings 1010, American Law & Economics Association.
    9. Marcel Boyer & Donatella Porrini, 2000. "Law versus Regulation: A Political Economy Model of Instrument Choice in Environmental Policy," CIRANO Working Papers 2000s-57, CIRANO.

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