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Full-Text Articles in Business
Toward A Total-Cost Approach To Environmental Instrument Choice, Daniel H. Cole, Peter Z. Grossman
Toward A Total-Cost Approach To Environmental Instrument Choice, Daniel H. Cole, Peter Z. Grossman
Scholarship and Professional Work - Business
Much of the theoretical literature on environmental instrument reflects a normative presumption that only "economic" instruments, such as effluent taxes or tradable quotas, can produce an efficient outcome. Other potential alternatives, such as non-tradable quotas or more general Pigovian taxes are ruled out as inherently inefficient. Moreover, most of the literature relies on an important but unwarranted presumption: that cost and benefit functions, although they may be subject to uncertainty, are identical regardless of the regime that is chosen; that is price and quota systems are assumed to face the same cost and benefit curves with the same expected values. …
Industry Self-Regulation: An Economic, Organizational, And Political Analysis, Lawrence J. Lad, Anil K. Gupta
Industry Self-Regulation: An Economic, Organizational, And Political Analysis, Lawrence J. Lad, Anil K. Gupta
Scholarship and Professional Work - Business
Researchers generally have viewed nonmarket regulation of firm behavior as synonymous with direct regulation by the government. This paper highlights industry self-regulation as an alternative form of nonmarket regulation that, depending on the context, may supplement or complement direct regulation by the government. Further, on the basis of exploratory economic, organizational, and political analysis, it advances, for possible future research, propositions relating to the existence, operation, and out-come of industry self-regulation.