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Nonregulatory Approaches to the Environment: Coasean and Pigouvian Perspectives

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  • H. Spencer Banzhaf
  • Timothy Fitzgerald
  • Kurt Schnier

Abstract

This article introduces a symposium on decentralized approaches to environmental management. These approaches include voluntary contributions to public goods, bundling contributions with private goods, and bundling the use of the environment with private goods. The article compares and contrasts the Coasean property rights perspective on such arrangements with the Pigouvian perspective of public economic theory. It further evaluates the efficiency of such arrangements through the lens of the excludability and nonrivalry problems, which are common to both perspectives. We conclude that both perspectives provide important insights for a comparative analysis of nonregulatory and regulatory approaches.(JEL: D23, D62, H23) Copyright 2013, Oxford University Press.

Suggested Citation

  • H. Spencer Banzhaf & Timothy Fitzgerald & Kurt Schnier, 2013. "Nonregulatory Approaches to the Environment: Coasean and Pigouvian Perspectives," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 7(2), pages 238-258, July.
  • Handle: RePEc:oup:renvpo:v:7:y:2013:i:2:p:238-258
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    File URL: http://hdl.handle.net/10.1093/reep/ret013
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    Cited by:

    1. Joshua K. Abbott, 2015. "Fighting Over a Red Herring: The Role of Economics in Recreational-Commercial Allocation Disputes," Marine Resource Economics, University of Chicago Press, vol. 30(1), pages 1-20.
    2. Ian A. MacKenzie & Markus Ohndorf, 2014. "Coasean Bargaining in the Presence of Pigouvian Taxation: Revisiting the Buchanan-Stubblebine-Turvey Theorem," Discussion Papers Series 515, School of Economics, University of Queensland, Australia.
    3. Andrew David Allan Smith, 2016. "The Use and Abuse of Environmental Knowledge: A Bloomington School Interpretation of the Canadian Fisheries Act of 1868," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 29(2), pages 139-161, June.
    4. MacKenzie, Ian A. & Ohndorf, Markus, 2016. "Coasean bargaining in the presence of Pigouvian taxation," Journal of Environmental Economics and Management, Elsevier, vol. 75(C), pages 1-11.

    More about this item

    JEL classification:

    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies

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