Recently, the European Commission has issued the Directive 2004/35/CE on environmental liability with regard to the prevention and remedying of environmental liability. The Directive extends liability that usually refers to personal injuries and private property to harm where private property...

This paper focuses both on the competition process and the firms' liability in environmental protection and the demonstration is made by comparing two models of safety investment. The first one shows sensitive players to their environmental liability: they seek to minimize the technologies...

The Polluter Pays Principle (PPP) is an environmental policy principle which requires that the costs of pollution be borne by those who cause it. In its original emergence the Polluter Pays Principle aims at determining how the costs of pollution prevention and control must be allocated: the...

The decision to disclose information concerning a firm's environmental liabilities is modeled as a sequential game involving the firm, a capital market and outside stakeholders who can impose proprietary (political) costs on the firm. A partial disclosure equilibrium is derived in which firms...

Superfund cleanup has been extremely slow. Traditional analysis has centered around reducing negotiation and litigation to expedite the cleanup process. We investigate other factors which provide possible incentives for delay, namely discounting, risk aversion, and compensation for off-site...

We endogenize location/product specification choices in a spatial Cournot duopoly on the linear market when firms' output entails an accidental harm to the environment. Under a strict liability regime, the equilibrium involves no differentiation if the expected harm is low enough. This outcome...

This article will focus on liabilities for the Area and examine the question of liability for the various actors involved, including contractors/operators who carry out the exploitation of resources, sponsoring States, flag States, and the International Seabed Authority. It is necessary to...

Within the environmental policy framework, one could distinguish two categories, both of which aim at the protection of the environment. The first category is based on the concept of reducing the use of non-renewable resources and energy, as well as on the replacement of “poisonous elements”...