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The Limitations of Legal Institutions for Addressing Environmental Risks

  • Peter S. Menell
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    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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    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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    1. Peter S. Barth & H. Allan Hunt, 1980. "Workers' Compensation and Work-Related Illnesses and Diseases," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number psbhah1980, June.
    2. George J. Stigler, 1971. "The Theory of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 3-21, Spring.
    3. Kornhauser, Lewis A & Revesz, Richard L, 1990. "Apportioning Damages among Potentially Insolvent Actors," The Journal of Legal Studies, University of Chicago Press, vol. 19(2), pages 617-51, June.
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