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The process of environmental regulation is usually a two-step one. In the first step, a standard for environmental quality is set. Then, in the second step, a regulatory mechanism is put in place to achieve the standard. In this paper I show how renewal theory can be used to set the quality standard optimally.

Keywords: environmental ; regulation ; standard ; renewal ; theory

Subject(s): Environmental Economics and Policy

Issue Date: 1995

Publication Type: Working or Discussion Paper

PURL Identifier: http://purl.umn.edu/28354

Total Pages: 10

JEL Codes: D81; Q20

Series Statement: ERI Study Paper 95-12

Record appears in: Utah State University > Economics Department > Economics Research Institute, ERI Study Papers





Autor: Batabyal, Amitrajeet A.

Fuente: http://ageconsearch.umn.edu/record/28354?ln=en



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