This paper studies a drinking water market in which a water company, faced with random contamination, chooses a treatment system, treatment levels, and whether to notify consumers that they should drink bottled water rather than risk exposure to contaminants in the tap water. The paper describes...

Before governments can "take" private property, property owners can often alter the public use value. This article models this capability and studies its implicationsf or takings compensation. Tying compensation to private land values generally does not prompt efficient land use practices. Tying...

We investigate the effectiveness of voluntary pollution prevention activities in reducing toxic releases from facilities that reported to the U.S. Environmental Protection Agency’s Toxics Release Inventory from 1991–2001, using generalized method of moments dynamic panel data models that...

The corporate approach to environmental protection has been evolving from a regulation-driven reactive mode to a more proactive approach involving voluntarily adopted management systems that integrate environmental concerns with traditional managerial functions. Several hypotheses about the...

This paper reevaluates the effectiveness of the EPA’s voluntary 33/50 program in reducing the releases of 17 high-priority toxic chemicals for the 1988–1995 period. Contrary to previous studies that use program participation information at the firm level and find mixed evidence on the...