This paper discusses environmental standard-setting from an economic perspective. Special attention is paid to the way in which environmental standards should be set in federal systems. Basic economics of standard-setting is presented as well as the difference between ambient quality standards...

Current regulation and liability schemes ineffectively prevent and routinely under compensate natural resources damages. Compensation instruments, such as liability insurance, direct insurance, risk sharing agreement, environmental funds, and guarantees provided by liable parties or third...

In the last decade one can identify several accidents which can be classified as large scale accidents of a catastrophic dimension. After such a catastrophe the compensation of victims is of crucial importance and governments often intervene in this compensation. However, the organization of...

In this contribution Michael Faure, Marjan Peeters and Andri Wibisana discussed the question whether economic instruments, also referred to as marketable instruments, are also suited for developing countries. The classic arguments concerning the shortcomings of command and control instruments...

In this paper Faure and Philipsen address price regulation and insurance for pharmaceuticals in the Netherlands. The authors first analyse, qualitatively, the complex regulatory framework and insurance for pharmaceuticals. After that, they examine the various actors in the drug distribution...

In this paper, we study the law and economics of cyber risk pooling arrangements: risk sharing without an insurer. We start our discussion with the current theoretical foundations for risk shifting in cyber security. We subsequently discuss cyber risk pooling in relation to individual risk...

A smart mix of legal instruments is not new, but green building (GB) compliance is. As a way to environmental compliance in general, the mixing of instruments may also work to overcome the challenges facing GB compliance. The mix can be justified by the failings of government regulation,...

Several countries with large end-consumer markets for timber have the declared objective of supporting forest sustainability around the globe, but the world's most important forests are, in fact, outside their jurisdictions. Actions to protect these forests are therefore constrained by the legal...

This chapter focuses on one particular aspect of adaptation to climate change, being the fact that climate change can create large losses. The paper addresses the question how compensation for those losses can be generated. After sketching a few general principles the paper addresses the pros...