Non-binding voluntary agreements
In reality, most voluntary agreements with polluters (VAs) are not enforceable in the sense that no legal tools are available to enforce Örmsí commitments. We examine whether such VAs are able to achieve an e¢ cient level of environmental protection when they are obtained under the legislative threat of a pollution quota. We show that they can improve social welfare relative to legislative intervention when lobbying Congress is very e§ective and when the polluter and the regulator do not discount future costs and beneÖts heavily. These Öndings suggest that VAs should be used selectively, taking into account sector characteristics and the degree of ináuence of lobbying on Congress.
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- Lyon,Thomas P. & Maxwell,John W., 2004.
"Corporate Environmentalism and Public Policy,"
Cambridge University Press, number 9780521819473, November.
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- Muthoo,Abhinay, 1999. "Bargaining Theory with Applications," Cambridge Books, Cambridge University Press, number 9780521576475, Diciembre.
- Maxwell, John W & Lyon, Thomas P & Hackett, Steven C, 2000. "Self-Regulation and Social Welfare: The Political Economy of Corporate Environmentalism," Journal of Law and Economics, University of Chicago Press, vol. 43(2), pages 583-617, October.
- John W. Maxwell & Thomas P Lyon & Steven C.. Hackett, 1995. "Self-Regulation and Social Welfare: The Political Economy of Corporate Environmentalism," University of Chicago - George G. Stigler Center for Study of Economy and State 122, Chicago - Center for Study of Economy and State.
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- Arguedas, Carmen, 2005. "Bargaining in environmental regulation revisited," Journal of Environmental Economics and Management, Elsevier, vol. 50(2), pages 422-433, September.
- Segerson, Kathleen & Miceli, Thomas J., 1998. "Voluntary Environmental Agreements: Good or Bad News for Environmental Protection?," Journal of Environmental Economics and Management, Elsevier, vol. 36(2), pages 109-130, September. Full references (including those not matched with items on IDEAS)
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