IDEAS home Printed from https://ideas.repec.org/a/wly/riskan/v18y1998i2p145-153.html
   My bibliography  Save this article

Utilizing Third‐Party Inspections for Preventing Major Chemical Accidents

Author

Listed:
  • Jweeping Er
  • Howard C. Kunreuther
  • Isadore Rosenthal

Abstract

This paper proposes using certified third parties, coupled with Model Risk Management Programs (Model RMPs), to implement EPA's Proposed Rule on the prevention of chemical accidental releases. We concentrate on the insurance aspects of this third‐party approach and show that it could enable insurers to more cost‐effectively provide coverage against the risks of chemical accidental releases. The third‐party approach may also signal the facility's safety and reduce the enforcement costs of regulations.

Suggested Citation

  • Jweeping Er & Howard C. Kunreuther & Isadore Rosenthal, 1998. "Utilizing Third‐Party Inspections for Preventing Major Chemical Accidents," Risk Analysis, John Wiley & Sons, vol. 18(2), pages 145-153, April.
    • Handle: RePEc:wly:riskan:v:18:y:1998:i:2:p:145-153
    DOI: 10.1111/j.1539-6924.1998.tb00926.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1539-6924.1998.tb00926.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1539-6924.1998.tb00926.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Isadore Rosenthal & Patrick J. McNulty & Lyse D. Helsing, 1998. "The Role of the Community in the Implementation of the EPA's Rule on Risk Management Programs for Chemical Accidental Release Prevention," Risk Analysis, John Wiley & Sons, vol. 18(2), pages 171-179, April.
    2. Noll, Roger G., 1989. "Economic perspectives on the politics of regulation," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 22, pages 1253-1287, Elsevier.
    3. R. Schmalensee & R. Willig (ed.), 1989. "Handbook of Industrial Organization," Handbook of Industrial Organization, Elsevier, edition 1, volume 2, number 2.
    4. R. Schmalensee & R. Willig (ed.), 1989. "Handbook of Industrial Organization," Handbook of Industrial Organization, Elsevier, edition 1, volume 1, number 1.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Stephen Finger & Shanti Gamper-Rabindran, 2013. "Testing the effects of self-regulation on industrial accidents," Journal of Regulatory Economics, Springer, vol. 43(2), pages 115-146, April.
    2. Haitao Yin & Alex Pfaff & Howard Kunreuther, 2011. "Can Environmental Insurance Succeed Where Other Strategies Fail? The Case of Underground Storage Tanks," Risk Analysis, John Wiley & Sons, vol. 31(1), pages 12-24, January.
    3. Howard C. Kunreuther & Patrick J. McNulty & Yong Kang, 2002. "Third‐Party Inspection as an Alternative to Command and Control Regulation," Risk Analysis, John Wiley & Sons, vol. 22(2), pages 309-318, April.
    4. Branden B. Johnson & Caron Chess, 2003. "Communicating Worst‐Case Scenarios: Neighbors' Views of Industrial Accident Management," Risk Analysis, John Wiley & Sons, vol. 23(4), pages 829-840, August.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lawrence White, 2002. "International Trade In Services: More Than Meets the Eye," Working Papers 02-13, New York University, Leonard N. Stern School of Business, Department of Economics.
    2. Çetin, Tamer & Yasin Eryigit, Kadir, 2013. "The economic effects of government regulation: Evidence from the New York taxicab market," Transport Policy, Elsevier, vol. 25(C), pages 169-177.
    3. Lindemann, Henrik, 2015. "Regulatory Objectives and the Intensity of Unbundling in Electricity Markets," Hannover Economic Papers (HEP) dp-544, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    4. Sharon Tennyson, 2008. "State Regulation and Consumer Protection in the Insurance Industry," NFI Policy Briefs 2008-PB-03, Indiana State University, Scott College of Business, Networks Financial Institute.
    5. Polemis, Michael L., 2016. "New evidence on the impact of structural reforms on electricity sector performance," Energy Policy, Elsevier, vol. 92(C), pages 420-431.
    6. Cramton, Peter & Kerr, Suzi, 2002. "Tradeable carbon permit auctions: How and why to auction not grandfather," Energy Policy, Elsevier, vol. 30(4), pages 333-345, March.
    7. Lawrence J. White, "undated". "Technological Change, Financial Innovation, and Financial Regulation: The Challenges for Public Policy," Center for Financial Institutions Working Papers 97-33, Wharton School Center for Financial Institutions, University of Pennsylvania.
    8. Harald Hau & Marcel Thum, 2000. "Lawyers, Legislation and Social Welfare," European Journal of Law and Economics, Springer, vol. 9(3), pages 231-254, May.
    9. Clifford Winston, 1998. "U.S. Industry Adjustment to Economic Deregulation," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 89-110, Summer.
    10. Frey Bruno S., 1990. "L’Effet De Transfert De Motivation," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 1(3), pages 1-28, October.
    11. Larry Blank & John Mayo, 2009. "Endogenous Regulatory Constraints and the Emergence of Hybrid Regulation," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 35(3), pages 233-255, November.
    12. EZZAT Riham Ahmed, 2015. "Paving the Way for Better Telecom Performance: Evidence from the Telecommunication Sector in MENA Countries," Review of Network Economics, De Gruyter, vol. 14(3), pages 157-199, September.
    13. Pier Angelo Mori, 2013. "Customer ownership of public utilities: new wine in old bottles," Journal of Entrepreneurial and Organizational Diversity, European Research Institute on Cooperative and Social Enterprises, vol. 2(1), pages 54-74, August.
    14. Moser, Peter, 1999. "The impact of legislative institutions on public policy: a survey," European Journal of Political Economy, Elsevier, vol. 15(1), pages 1-33, March.
    15. Sumner J. La Croix & James Mak & Louis A. Rose, 1995. "The Political Economy of Urban Land Reform in Hawaii," Urban Studies, Urban Studies Journal Limited, vol. 32(6), pages 999-1015, June.
    16. Paul L. Joskow & Nancy L. Rose & Catherine Wolfram, 1996. "Political Constraints on Executive Compensation: Evidence from the Electric Utility Industry," RAND Journal of Economics, The RAND Corporation, vol. 27(1), pages 165-182, Spring.
    17. Daowei Zhang & David Laband, 2005. "From Senators to the President: Solve the lumber problem or else," Public Choice, Springer, vol. 123(3), pages 393-410, June.
    18. Evangelinos, Christos, 2013. "Interessengruppen und Preissetzung im Verkehr," Discussion Papers 2/2013, Technische Universität Dresden, "Friedrich List" Faculty of Transport and Traffic Sciences, Institute of Transport and Economics.
    19. Fredriksson, Per G. & Gaston, Noel, 1999. "The "greening" of trade unions and the demand for eco-taxes," European Journal of Political Economy, Elsevier, vol. 15(4), pages 663-686, November.
    20. Stanley Reiter, 1996. "On endogenous economic regulation," Review of Economic Design, Springer;Society for Economic Design, vol. 2(1), pages 211-243, December.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wly:riskan:v:18:y:1998:i:2:p:145-153. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://doi.org/10.1111/(ISSN)1539-6924 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.