Open Access. Powered by Scholars. Published by Universities.®
- Discipline
Articles 1 - 2 of 2
Full-Text Articles in Law
Alternatives To Regulation?: Market Mechanisms And The Environment, David M. Driesen
Alternatives To Regulation?: Market Mechanisms And The Environment, David M. Driesen
College of Law - Faculty Scholarship
This book chapter presents a discussion of instrument choice in institutional context, with an emphasis on the Kyoto Protocol as an example of environmental benefit trading under a multilevel governance arrangement. Typically, economic models and qualitative discussion of instrument choice implicitly assume that a single regulator selects, designs, and enforces regulatory instruments. Increasingly, however, multiple polities implement regulatory instruments together. The Kyoto Protocol, for example, includes international, regional, national, sub-national, and private roles in the design and enforcement of emissions trading. This chapter emphasizes that design and enforcement are critical, as market mechanisms do not "automatically" produce environmental progress; rather …
An Environmental Competition Statute, David M. Driesen
An Environmental Competition Statute, David M. Driesen
College of Law - Faculty Scholarship
This chapter from a forthcoming Cambridge Press book, Beyond Environmental Law, proposes emulating free market dynamics with a new regulatory instrument, the Environmental Competition Statute. This statute would authorize any polluter making a pollution reduction to require a dirtier competitor to reimburse it for the full cost of making this improvement along with a preset profit margin. This creates an economic dynamic similar to that prevailing in very competitive markets. In such markets, those who innovate in effect take money from those who do not, by taking over a portion of their market share. This statute similarly allows environmental innovators …