Linking of repeated games and exchange of concessions in fields of relative strength may lead to more cooperation and to Pareto improvements relative to the situation where each game is played separately. In this paper we formalize these statements, provide some general results concerning the...

Whereas 'traditional environmental economics' - considering pervasive 'market failure' in the form of negative externalities as the root cause of the problem of environmental degradation - argues for specific government intervention in the market process via a host of different measures to...

Recently, attention has turned to the use of voluntary agreements between regulators and polluters as an alternative to mandatory approaches based on regulation or legislation. Voluntary agreements have the potential to reduce compliance costs by allowing greater flexibility and to reduce...

Voluntary agreements with polluting industries are becoming a popular alternative to traditional environmental regulation. One reason may be that voluntary agreements can reduce compliance costs of polluting industries. In this paper we develop a family of simple policy formulation and...

Voluntary Agreements (VAs) are becoming increasingly prominent in many countries as a policy instrument for achieving improvements in the environmental performance of industry. They aim to encourage industry led initiatives to set and meet environmental goals, to raise the environmental profile...