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Information Disclosure as Environmental Regulation: A Theoretical Analysis

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Author Info
Mark Cohen ()
V. Santhakumar

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Abstract

Governments around the world are beginning to embrace a new form of environmental regulation – mandatory disclosure of information. While information disclosure programs appear to have an impact on subsequent firm behavior – often resulting in lower levels of pollution – little is known about the costs and benefits of these programs and whether or not they enhance social welfare. This paper presents a simple bargaining model where mandatory information disclosure is used to overcome a lack of information on the part of the public. We characterize the conditions under which information disclosure will lead to a reduction in emissions, and ultimately, the conditions under which it will enhance social welfare. Several extensions of the model are briefly explored, including the effect of two sources of pollution – only one of which is subject to information disclosure. Copyright Springer Science+Business Media, Inc. 2007

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File URL: http://hdl.handle.net/10.1007/s10640-006-9052-9
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Publisher Info
Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 37 (2007)
Issue (Month): 3 (July)
Pages: 599-620
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:kap:enreec:v:37:y:2007:i:3:p:599-620

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Web page: http://www.springerlink.com/link.asp?id=100263

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Related research
Keywords: information disclosure; environmental regulation; Coase theorem; asymmetric information; D62; H41; Q58;

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Konar, Shameek & Cohen, Mark A., 1997. "Information As Regulation: The Effect of Community Right to Know Laws on Toxic Emissions," Journal of Environmental Economics and Management, Elsevier, vol. 32(1), pages 109-124, January. [Downloadable!] (restricted)
  2. Kennedy, P.W. & Laplante, B. & Maxwell, J., 1993. "Pollution Policy: The Role for Publicly Provided Information," Papers 9301, Laval - Recherche en Energie.
    Other versions:
  3. Huber, Claus & Wirl, Franz, 1998. "The Polluter Pays versus the Pollutee Pays Principle under Asymmetric Information," Journal of Environmental Economics and Management, Elsevier, vol. 35(1), pages 69-87, January. [Downloadable!] (restricted)
  4. Felix Oberholzer-Gee & Miki Mitsunari, 2006. "Information regulation: Do the victims of externalities pay attention?," Journal of Regulatory Economics, Springer, vol. 30(2), pages 141-158, 08. [Downloadable!] (restricted)
  5. Afsah, Shakeb & Laplante, Benoit & Wheeler, David, 1996. "Controlling industrial pollution : a new paradigm," Policy Research Working Paper Series 1672, The World Bank. [Downloadable!]
  6. Tom Tietenberg, 1998. "Disclosure Strategies for Pollution Control," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 11(3), pages 587-602, April. [Downloadable!] (restricted)
  7. Khanna, Madhu & Quimio, Wilma Rose H. & Bojilova, Dora, 1998. "Toxics Release Information: A Policy Tool for Environmental Protection," Journal of Environmental Economics and Management, Elsevier, vol. 36(3), pages 243-266, November. [Downloadable!] (restricted)
  8. Dasgupta, Susmita & Jong Ho Hong & Laplante, Benoit & Mamingi, Nlandu, 2004. "Disclosure of environmental violations and the stock market in the Republic of Korea," Policy Research Working Paper Series 3344, The World Bank. [Downloadable!]
  9. Hamilton James T., 1995. "Pollution as News: Media and Stock Market Reactions to the Toxics Release Inventory Data," Journal of Environmental Economics and Management, Elsevier, vol. 28(1), pages 98-113, January. [Downloadable!] (restricted)
  10. Maxwell, John W & Lyon, Thomas P & Hackett, Steven C, 2000. "Self-Regulation and Social Welfare: The Political Economy of Corporate Environmentalism," Journal of Law & Economics, University of Chicago Press, vol. 43(2), pages 583-617, October.
    Other versions:
  11. Kennedy Peter W. & Laplante Benoit & Maxwell John, 1994. "Pollution Policy: the Role for Publicly Provided Information," Journal of Environmental Economics and Management, Elsevier, vol. 26(1), pages 31-43, January. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Francisco J. André & Abderrahmane Sokri & Georges Zaccour, 2009. "Public Disclosure Programs vs. Traditional Approaches for Environmental Regulation: Green Goodwill and the Policies of the Firm," Working Papers 09.02, Universidad Pablo de Olavide, Department of Economics. [Downloadable!]
  2. Hyunhoe Bae & Peter Wilcoxen & David Popp, 2008. "Information Disclosure Policy: Do States' Data Processing Efforts Help More than the Information Disclosure Itself?," NBER Working Papers 14409, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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