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Pace Environmental Law Review

Benefit-cost analysis

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Full-Text Articles in Natural Resources Law

The End Externalities Manifesto: Restatement, Loose Ends, And Unfinished Business, J.B. Ruhl Jun 2023

The End Externalities Manifesto: Restatement, Loose Ends, And Unfinished Business, J.B. Ruhl

Pace Environmental Law Review

Professor J.B. Ruhl observes in his article, “The End Externalities Manifesto: Restatement, Loose Ends, and Unfinished Business,” that Elliott and Esty’s proposal for a rights-centric system of environmental law focuses narrowly on a right to recover compensation for harms to human health caused by pollution. He offers suggestions for implementing that proposal, such as using the concept of ecosystem services to trace how harm to ecosystems can cause harm to human health, and he proposes how Elliott and Esty could extend their rights-centric system to a broader conception of human rights and the environment.


Natural Resource Systems And The Evolution Of Environmental Law, Monika Ehrman Jun 2023

Natural Resource Systems And The Evolution Of Environmental Law, Monika Ehrman

Pace Environmental Law Review

Professor Monika Ehrman provides a pragmatic response to Elliott and Esty’s proposal to end all environmental externalities, which she refers to as an “environmental law moonshot.” She examines the value of transforming environmental law and dreaming big as Elliott and Esty recommend, while discussing the practical considerations of doing so. Her considerations include incentivizing technological advancement, compensating environmentally harmed communities to address systemic issues, and breaking down silos in environmental law.


A Balanced Prescription For More Effective Environmental Regulations, W. Kip Viscusi Jun 2023

A Balanced Prescription For More Effective Environmental Regulations, W. Kip Viscusi

Pace Environmental Law Review

Government agencies increasingly base the structure and approval of environmental regulations on a benefit-cost test. For regulations that pass this test, total benefits exceed total costs. Under a benefit-cost framework, the degree of regulatory stringency is set at an economically efficient level whereby the tightness of the regulation is increased up to the point where the incremental benefits equal the incremental costs. Setting regulatory standards to achieve the efficient degree of pollution control does not fully discourage entry into polluting industries, provide compensation to those harmed by pollution, or establish meaningful incentives for effective enforcement. This article proposes that the …


Environmental Law For The 21st Century, E. Donald Elliott, Daniel C. Esty Jun 2023

Environmental Law For The 21st Century, E. Donald Elliott, Daniel C. Esty

Pace Environmental Law Review

In this issue, Professors Elliott and Esty expand on their original proposal and respond to critics.2 They apply their perspectives as practitioners, as well as academics, to develop their vision for environmental law in the 21st century. They establish three legal duties that should apply to entities that release potentially harmful materials into the environment. Professors Elliott and Esty contend that such entities have a duty (1) of research and disclosure to assure the public that any environmental releases are not harmful, (2) to minimize harm if they fail to demonstrate the releases are harmless, and (3) to compensate those …


Introduction, Gabriella Mickel, Samantha Blend Jun 2023

Introduction, Gabriella Mickel, Samantha Blend

Pace Environmental Law Review

No abstract provided.