Many governments have introduced or are considering introducing laws to recover from the
liable parties the cleanup costs caused by pollution damages. In particular, the banks who …

THE economic theory of clubs, as formulated by James Buchanan (1965), is now
understood to provide the theoretical foundation for the theory of local public goods. The …

This paper examines the use of inflexible Pigovian taxes/subsidies to correct a stock
externality. An optimal control framework is first used to characterize the first-best path for a …

This paper examines the impacts of increased risk on the voluntary provision of public
goods. I strengthen the view that uncertainty ameliorates free riding even given negative non …

Market asset allocation and land fragmentation at the tropical moist forestal frontier are often
inadequate because limited and short-term human interests often do not agree with …

However, the existing literature claims that the explicit introduction of alleviation activity does
not invalidate the Pigouvian prescription while it does influence the level of the tax (eg …

ABSTRACT The 1980 Comprehensive Environmental Response, Compensation and
Liability Act in the US has extended the tools of the Environmental Protection Agency to …

This paper is basically the extension of Oates' model. It is argued that Pigouvian tax alone
cannot correct the common forms of externalities with alleviation beh-aviors in the presence …

A theory of aversion toward risks in a subset of the arguments of the utility function when
other arguments are risky as well is developed. In Chapter 2, a risk premium is defined that …