Economics of Environmental Law - 9781848441026

The two volumes reproduce classic articles on the theory underlying the economic dimension of environmental law, and on recent methodological innovations in the field from both environmental law and economics. The first volume covers the theoretical foundations of the notion that any particular policy goal can be furthered by using legal instruments such as taxes or property rights to correct for market failures. The topics include dispute resolution among neighbors in Shasta County, the simple economics of injunctive and damage remedies, and inter-generational equity and the investing of rents from exhaustible resources. Addressing issues and applications, volume two covers policy design, the performance of environmental regulations, environmental regulation and economic activity, and the valuation and comparison of costs and benefits. Specific topics there include the cost-effectiveness of alternative instruments for environmental protection in a second-best setting, household responses to pricing garbage by the bag, environmental regulation and the competitiveness of US manufacturing, and evidence from the housing market for the importance of air quality. There is no subject index. Annotation ©2009 Book News, Inc., Portland, OR (booknews.com)