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Non-binding voluntary agreements

  • Glachant, Matthieu

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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Article provided by Elsevier in its journal Journal of Environmental Economics and Management.

Volume (Year): 54 (2007)
Issue (Month): 1 (July)
Pages: 32-48

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Handle: RePEc:eee:jeeman:v:54:y:2007:i:1:p:32-48
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  1. 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.
  2. Arora, Seema & Gangopadhyay, Shubhashis, 1995. "Toward a theoretical model of voluntary overcompliance," Journal of Economic Behavior & Organization, Elsevier, vol. 28(3), pages 289-309, December.
  3. repec:cup:cbooks:9780521819473 is not listed on IDEAS
  4. 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.
  5. Amacher, Gregory S. & Malik, Arun S., 1996. "Bargaining in Environmental Regulation and the Ideal Regulator," Journal of Environmental Economics and Management, Elsevier, vol. 30(2), pages 233-253, March.
  6. repec:cup:cbooks:9780521576475 is not listed on IDEAS
  7. Manzini, Paola & Mariotti, Marco, 2003. "A bargaining model of voluntary environmental agreements," Journal of Public Economics, Elsevier, vol. 87(12), pages 2725-2736, December.
  8. repec:cup:cbooks:9780521603768 is not listed on IDEAS
  9. Arguedas, Carmen, 2005. "Bargaining in environmental regulation revisited," Journal of Environmental Economics and Management, Elsevier, vol. 50(2), pages 422-433, September.
  10. Lyon, Thomas P. & Maxwell, John W., 2003. "Self-regulation, taxation and public voluntary environmental agreements," Journal of Public Economics, Elsevier, vol. 87(7-8), pages 1453-1486, August.
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