Regulation, reputation, and environmental risk
This paper examines how preferences for social reputation affect the design of monetary incentives in an efficient mechanism for environmental risk. Our results are a high reputation firm receives less than optimal transfer; the low reputation firm sacrifices information rent.
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- Samuel Bowles & Sung-Ha Hwang, 2008. "Social Preferences and Public Economics: Mechanism Design when Social Preferences Depend on Incentives," Department of Economics University of Siena 530, Department of Economics, University of Siena.
- Samuel Bowles & Sung Ha Hwang, 2008. "Social Preferences and Public Economics: Mechanism design when social preferences depend on incentives," UMASS Amherst Economics Working Papers 2008-06, University of Massachusetts Amherst, Department of Economics.
- Smith, Rodney B. W. & Shogren, Jason F., 2002. "Voluntary Incentive Design for Endangered Species Protection," Journal of Environmental Economics and Management, Elsevier, vol. 43(2), pages 169-187, March.
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- Smith, Adam, 1759. "The Theory of Moral Sentiments," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number smith1759.
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