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Regulating Multiple Polluters: Deterrence and Liability Allocation

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  • Hyde, Charles E
  • Rausser, Gordon C
  • Simon, Leo K

Abstract

We consider regulation of multiple polluters when individual emissions are unobservable. The tension between pollution deterrence and funding of remediation is examined under two constraints: that penalty revenues fully fund remediation costs and that the regulator cannot make positive transfers to firms. To isolate the effect of increasing the number of polluters, we compare an industry consisting of a single large firm with one in which many small firms in aggregate mimic the large firm. Contrary to previous findings, both the number of firms and the ability to monitor individual firms affect the welfare of a large class of regulators. Copyright 2000 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

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Bibliographic Info

Article provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.

Volume (Year): 41 (2000)
Issue (Month): 2 (May)
Pages: 495-521

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Handle: RePEc:ier:iecrev:v:41:y:2000:i:2:p:495-521

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Cited by:
  1. Boyer, Marcel & Laffont, Jean-Jacques, 1997. "Environmental risks and bank liability," European Economic Review, Elsevier, vol. 41(8), pages 1427-1459, August.
  2. Anastasios Xepapadeas, . "The Economics of Nonpoint Source Pollution," DEOS Working Papers 1233, Athens University of Economics and Business.
  3. Tsur, Yacov & de Gorter, Harry, 2012. "Dynamic regulation of nonpoint source pollution when the number of emitters is large," Discussion Papers 122124, Hebrew University of Jerusalem, Department of Agricultural Economics and Management.
  4. Larry Karp, 2005. "Nonpoint Source Pollution Taxes and Excessive Tax Burden," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 31(2), pages 229-251, 06.

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