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.
|Date of creation:||Jul 2007|
|Publication status:||Published in Journal of Environmental Economics and Management, Elsevier, 2007, 54 (1), pp.32-48. <10.1016/j.jeem.2007.01.001>|
|Note:||View the original document on HAL open archive server: https://hal-mines-paristech.archives-ouvertes.fr/hal-00437769|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
References listed on IDEAS
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- Lyon,Thomas P. & Maxwell,John W., 2004.
"Corporate Environmentalism and Public Policy,"
Cambridge University Press, number 9780521819473, October.
- Lyon,Thomas P. & Maxwell,John W., 2004. "Corporate Environmentalism and Public Policy," Cambridge Books, Cambridge University Press, number 9780521603768, October.
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- 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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- 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.
- 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.
- Manzini, Paola & Mariotti, Marco, 2003. "A bargaining model of voluntary environmental agreements," Journal of Public Economics, Elsevier, vol. 87(12), pages 2725-2736, December. Full references (including those not matched with items on IDEAS)
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