The Clean Air Act provides the primary regulatory framework for climate policy in the United States. Tradable performance standards (averaging) emerge as the likely tool to achieve flexibility in the regulation of existing stationary sources. This paper examines the relationship between...

Carbon dioxide (CO2) emissions impose a significant cost on society by contributing to climate change. The electricity sector is a major source of these emissions, yet their external cost is not fully reflected in electricity rates, and the market outcomes thus do not adjust to reflect those...

Die Politik verfolgt mit einer Reihe an regulatorischen Maßnahmen das Ziel, den Klimaschutz voranzutreiben. Die Wirksamkeit dieser Maßnahmen hängt auch von der Reaktion der regulierten Unternehmen und damit von deren Akzeptanz der Regulierung ab. Die vorliegende Studie untersucht die...

Environmental economics has employed the seminal contribution of Ronald H. Coase (1960) intensively but has remained relatively unaffected by the contributions of perhaps his most influential follower, Oliver E. Williamson. As an initial step in addressing this oversight, we apply the analytical...

In environmental regulation as well as in other regulatory domains, a critical question is how outside interests shape the rulemaking agenda. A great deal of skepticism toward regulation stems from the widespread perception that agencies excessively or even exclusively cater to business...

This chapter challenges the myth of pharmaceuticals constituting a Sun Rise industry of great potential for the future of the nation. This notion has come to assign a privileged status to such production, which in turn has contributed to regulatory agencies treating manufacturers as life-savers...

U.S. regulatory agencies have been required to consider the equity and distributional impacts of regulations for decades. This paper examines the extent to which such analysis is done and provides recommendations for improving it. We analyze 187 cost-benefit analyses (CBAs) prepared by agencies...

Information-based policies play an important role in environmental protection efforts around the world. These policies use information provision and/or disclosure to shape behavior in order to meet the policy objective; for example, mandatory information disclosure requires firms to measure and...

Deciding whether to regulate involves more than making a choice between complete freedom and total control. Individuals and businesses can be regulated but still retain considerable discretion – even to the point of selecting on their own the rules that apply to themselves. In this paper, we...

Presidents have long sought to roll back their predecessors’ regulatory policies. They have typically relied on efforts to repeal regulations and to withdraw unpublished or non-final regulations pursuant to “stop-work” orders directed at agency heads. President Trump is no exception. But...