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A Renewal Theoretic Approach To Environmental Standard Setting

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  • Batabyal, Amitrajeet A.

Abstract

The process of environmental regulation is usually a two-step one. In the first step, a standard for environmental quality is set. Then, in the second step, a regulatory mechanism is put in place to achieve the standard. In this paper I show how renewal theory can be used to set the quality standard optimally.

Suggested Citation

  • Batabyal, Amitrajeet A., 1995. "A Renewal Theoretic Approach To Environmental Standard Setting," Economics Research Institute, ERI Study Papers 28354, Utah State University, Economics Department.
    • Handle: RePEc:ags:usuesp:28354
    DOI: 10.22004/ag.econ.28354
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    References listed on IDEAS

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    1. Batabyal, Amitrajeet A., 1995. "Leading issues in domestic environmental regulation: A review essay," Ecological Economics, Elsevier, vol. 12(1), pages 23-39, January.
    2. Cropper, Maureen L & Oates, Wallace E, 1992. "Environmental Economics: A Survey," Journal of Economic Literature, American Economic Association, vol. 30(2), pages 675-740, June.
    3. Batabyal, Amitrajeet A. & Yoo, Seung Jick, 1996. "Corrigendum to "Renewal theory and natural resource regulatory policy under uncertainty" [Economics Letters 46 (1994) 240]," Economics Letters, Elsevier, vol. 52(1), pages 119-119, July.
    4. Oates, Wallace E & Portney, Paul R & McGartland, Albert M, 1989. "The Net Benefits of Incentive-Based Regulation: A Case Study of Environmental Standard Setting," American Economic Review, American Economic Association, vol. 79(5), pages 1233-1242, December.
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    Cited by:

    1. Batabyal, Amitrajeet A. & Kahn, James R. & O'Neill, Robert V., 2003. "On the scarcity value of ecosystem services," Journal of Environmental Economics and Management, Elsevier, vol. 46(2), pages 334-352, September.

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