other substitutes are available in many applications and that some may be more harmful than solvents. In order to limit the possibility of regulation leading to increased harmful exposures, regulation must be broad enough in scope to deal with existing substitutes and flexible enough to anticipate the introduction and use of as-yet-unknown substitutes. An environmental bond, similar to the form of depositrefund proposed above for solvent still bottoms, is one regulatory tool that could be used to discourage the introduction of harmful substitutes while limiting information requirements for regulators.29
ASTM (American Society for Testing and Materials). 1989. Manual on Vapor Degreasing, 3rd ed. ( Philadelphia, PA: ASTM).
Bohm, P., and Russell, C. 1985. "Comparative Analysis of Alternative Policy Instruments." Pp. 395-460 in A. Kneese and J. Sweeney, eds., Handbook of Natural Resource and Energy Economics ( Amsterdam: North Holland).
Chestnutt, T. W. 1988. Market Response to the Government Regulation of Toxic Substances: The Case of Chlorinated Solvents, N-2636-EPA ( Santa Monica, CA: RAND Corp.).
Gaskins, P. 1974. "Alcoa Revisited: The Welfare Implications of a Second- Hand Market." Journal of Economic Theory, vol. 7, pp. 254-271.
HSIA (Halogenated Solvents Industry Alliance). 1989. Chlorinated Solvents in the Environment ( Washington, DC: HSIA).
IEI (Industrial Economics, Inc.). 1989. Multi-Media Incentives for Reducing Releases of SARA 313 Chemicals ( Cambridge, MA: IEI).
Magat, Wesley A., W. Kip Viscusi, and Joel Huber. 1988. "Consumer Processing of Hazard Warning Information." Journal of Risk and Uncertainty, vol. 1, pp. 201-232.
Mannsville Chemical Products Corporation. 1988. Chemical Products Synopsis: Methylene Chloride ( Asbury Park, NJ: September).
-----. 1989a. Chemical Products Synopsis: Perchloroethylene ( Asbury Park, NJ: February).
-----. 1989b. Chemical Products Synopsis: Trichloroethylene ( Asbury Park, NJ: February).
-----. 1990. Chemical Products Synopsis: 1,1,1-Trichloroethane ( Asbury Park, NJ: October).____________________
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information: Book title: Using Economic Incentives to Regulate Toxic Substances. Contributors: Molly K. Macauley - Author, Michael D. Bowes - Author, Karen L. Palmer - Author. Publisher: Resources for the Future. Place of publication: Washington, DC. Publication year: 1992. Page number: 50.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.