For almost 20 years, the Ministry of Environment of the Republic of Korea has published on a monthly basis a list of enterprises that fail to comply with national environmental laws and regulations. In this paper, the authors examine the reaction of investors to the publication of these lists...

The accounting and public release of information about industrial toxic pollution emissions is meeting increasing criticism in that these listings typically do not account for the different toxicity risks associated with different pollutants. A firm emitting a large amount of relatively harmless...

The authors examine policy problems related to the use of emissions taxes, and emissions trading, two market-based instruments for controlling pollution by getting regulated firms to adopt cleaner technologies. By attaching an explicit price to emissions, these instruments give firms an...

This paper presents a study of willingness-to-pay of the Armenian Diaspora in the United States to protect Armenia's Lake Sevan, a unique and precious symbol of the Armenian cultural heritage. Dichotomous choice contingent valuation questions were asked by mail surveys to elicit...

Since 1989, environmental authorities of the Republic of Korea have published on a monthly basis a list of enterprises violating the country's environmental rules and regulations. This may be the longest environmental public disclosure program currently in existence. Over the period 1993-2001 in...

Since the early 1970s, industrial countries have enacted (or amended) many environmental laws and regulations to control and improve air and water quality. Developing countries are increasingly enacting similar legislation. But imposing a ceiling on a plant's emissions does not guarantee reduced...

Economists have criticized regulations that impose uniform environmental standards on plants that may face different marginal abatement costs and damage functions. Such critics ignore the difference in standard implementation across plants, giving rise to nonuniform standards. The authors...

The authors call for a revised model for the regulation of industrial pollution. They think the traditional emphasis on appropriate instruments, while ultimately correct, is premature, because agencies in most developing countries have insufficient information and burdensome transaction costs to...

The empirical literature on environmental performance or compliance has followed two strands: one based on the impact of formal regulation as a means of inducing better environmental performance, and another centered on the role of informal regulation which mainly emphasizes the role of...

This paper presents a case study of willingness-to-pay (WTP) estimation using random valuation models. A contingent valuation survey was conducted in Yerevan, Armenia to estimate people's WTP for the protection of Lake Sevan. Three elicitation formats-open-ended, closed-ended, and the stochastic...