Moving to Markets in Environmental Regulation.
Need help with a related project topic or New topic? Send Us Your Topic
DOWNLOAD THE COMPLETE PROJECT MATERIAL
Moving to Markets in Environmental Regulation.
INTRODUCTION
Over the last decade, market-based incentives have emerged as the preferred regulatory method for addressing complex environmental issues. They are often regarded as more effective than traditional command and control regulations.
This collection of essays explores this subject critically, assesses whether the promises of market-based regulation have been met, and suggests future study that no longer sets one approach against the other, but rather investigates their interaction and compatibility.
This book began as a series of conversations over several months in 2002, aided by great Santa Barbara County wine. Our topic was environmental regulation, specifically the long-standing debate over command and control versus market-based environmental regulation, and our discussions made us wonder how two scholars—one an economist, the other a lawyer—could be so concerned about the same problem while holding such opposing viewpoints.
The literatures on which we relied seemed to have little in common, and our normative frameworks appeared to be passing ships in the night. Were we typical? In what ways did economists approach regulation design challenges differently from legal scholars? Beyond the differences in technique, what did each field really know?
What have we learnt from our experience with market-based regulations? In particular, if we could draw on the most fascinating and recent research in both domains, what would we learn about how well market tools have performed in comparison to prescriptive legislation to date?
To tackle these questions, we invited some of the brightest minds in environmental regulation, from economics and law, to prepare papers and meet for a focused one-day workshop in Santa Barbara in August 2003. We hoped that the outcome of such a discourse would be far greater than the sum of the two disciplinary elements.
The results were rather astounding. The intensity remained constant throughout the extremely long day. The discussion was consistently entertaining and truly cross-disciplinary.
There were fascinating moments of translation and synergy, consensus and conflict. The exchange regularly startled the group and led to questions and concerns that we had not anticipated.
Need help with a related project topic or New topic? Send Us Your Topic
DOWNLOAD THE COMPLETE PROJECT MATERIAL