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) workers by allowing them to reduce the negative externalities (e.g. pollution) that would be generated without them, and to …
Persistent link: https://www.econbiz.de/10014090301
Do US air pollution offset markets disproportionately relocate pollution to or from low-income or minority communities …? Concerns about an equal distribution of environmental quality across communities—environmental justice—have growing policy … plants. We find little association of offset prices or offset-induced movements in pollution with the share of a community …
Persistent link: https://www.econbiz.de/10014089527
This paper investigates the joint effect of consumers' environmental concerns and product-market competition on firms' decisions whether to innovate “clean” or “dirty”. We first develop a step-by-step innovation model to capture the basic intuition that socially responsible consumers...
Persistent link: https://www.econbiz.de/10013307902
We find that money managers could reduce portfolio risk by incorporating Environmental, Social, and Governance (ESG) criteria into their investment process. ESG-related issues can cause sudden regulatory changes and shifts in consumer tastes, resulting in large asset price swings which leave...
Persistent link: https://www.econbiz.de/10012941986
The Toxics Release Inventory (TRI) was expected to reduce health risks stemming from emissions of hazardous chemicals by increasing public pressure on polluters. However, it is a massive and complex dataset, requiring significant expertise to interpret in its raw form. State governments have...
Persistent link: https://www.econbiz.de/10012758276
Different beliefs about how fair social competition is and what determines income inequality, influence the redistributive policy chosen democratically in a society. But the composition of income in the first place depends on equilibrium tax policies. If a society believes that individual effort...
Persistent link: https://www.econbiz.de/10013134300
This paper proposes a theory of price rigidity consistent with survey evidence that firms stabilize prices out of fairness to their consumers. The theory relies on two psychological assumptions. First, customers care about the fairness of prices: fixing the price of a good, consumers enjoy it...
Persistent link: https://www.econbiz.de/10012948083
People's fairness preferences are an important constraint for what constitutes an acceptable economic transaction, yet little is known about how these preferences are formed. In this paper, we provide clean evidence that previous transactions play an important role in shaping perceptions of...
Persistent link: https://www.econbiz.de/10012981613
We analyze how separations responded to arbitrary differences in own and peer wages at a large U.S. retailer. Regression-discontinuity estimates imply large causal effects of own wages on separations, and on quits in particular. However, this own-wage response could reflect comparisons either to...
Persistent link: https://www.econbiz.de/10012912533
In settings with uncertainty, tension exists between ex ante and ex post notions of fairness (e.g., equal opportunity versus equal outcomes). In a laboratory experiment, the most common behavioral pattern is for subjects to select the ex ante fair alternative ex ante, and switch to the ex post...
Persistent link: https://www.econbiz.de/10012907770