Abstract
In the context of many environmental hazards there is scope for self-defence by victims. Multiple equilibria arise in a model of bilateral precaution under a regime of strict but incompletely enforced environmental liability. This means that the same system of environmental law instigated in two economies may lead to very different outcomes. It impacts upon policy analysis in a variety of ways and provides a channel for "cultural factors" to matter. We explore the positive and normative effects of subsidising self-defence.
Original language | English |
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Pages (from-to) | 257-266 |
Number of pages | 10 |
Journal | Environmental and Resource Economics |
Volume | 19 |
Issue number | 3 |
DOIs | |
Publication status | Published - 2001 |
ASJC Scopus subject areas
- Economics and Econometrics
- Management, Monitoring, Policy and Law