Voluntary environmental agreements have been popular with government agencies in several countries. However, many questions remain about their efficiency as a regulatory tool. Recent analyses suggest that they are more effective than classical regulatory or economic approaches when dealing with...

Private provision of public environmental benefits is considered with a theory of prosocial behavior that elaborates the roles of nonhedonistic values held by agents as well as the functional interaction between private good and public good production processes. The theory also identifies the...

Firms may underinvest in local environmental protection even from the private viewpoint of its owners and employees, but works councils may help mitigate this problem. We show that increases in environmental investments when councils are present could be employee-led, firm-led, or jointly-led....