Using Economic Incentives to Regulate Toxic Substances

By Molly K. Macauley; Michael D. Bowes et al. | Go to book overview

6
Summary and Conclusions
The preceding chapters have considered the use of economic incentives as alternatives to command-and-control regulation of the undesirable health or environmental effects that might be associated with the production and use of chemicals. Our discussion has sought to tailor general prescriptions from the economics literature on environmental regulation to accommodate the special characteristics of toxic substances. The general literature typically assumes a fairly homogeneous pollutant associated with one stage of production (or use) at a somewhat readily identifiable source. The following characteristics of toxic substances challenge these assumptions, however:
1. The potential for health and environmental risks to occur at multiple stages of the life cycle of the substance;
2. Significant variation in the distribution of potential risks across a multitude of heterogeneous products and applications; and
3. The potential for exposure to other hazardous substances or processes that may be substituted for a regulated substance.

The first two of these factors call for regulatory interventions that target specific life-cycle stages, products, and uses. However, targeting intervention may be costly to administer, enforce, and monitor. Blunter interventions, such as an outright ban on a substance or a tax on all production or use of that substance, may be less costly to administer but may impose large social welfare losses if productive yet relatively harmless applications are precluded. Self-enforcing strategies such as deposit-refund mechanisms or, in the case of taxes and tradable permits, the use of audit/penalty schemes to induce compliance have the potential to reduce administrative, enforcement, and monitoring costs. (Audit/penalty schemes, not detailed in the preceding chapters, are outlined in Russell, Harrington, and Vaughan [ 1986].)

-125-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
Using Economic Incentives to Regulate Toxic Substances
Table of contents

Table of contents

  • Title Page iii
  • Resources for the Future v
  • Contents vii
  • List of Figures and Tables ix
  • Foreword xi
  • Acknowledgments xiv
  • 1 - Introduction 1
  • 2 - Chlorinated Solvents 18
  • References 50
  • 3 - Formaldehyde 52
  • References 77
  • 4 - Cadmium 80
  • References 105
  • 5 - Brominated Flame Retardants 108
  • References 122
  • 6 - Summary and Conclusions 125
  • References 132
  • Index 135
  • About the Authors 144
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
/ 146

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.