Over the past decade, state policies on renewable energy have been on the rise in the United States, providing states with various options for encouraging the generation of renewable electricity. Two promising policies, the Renewable Portfolio Standard (RPS) and the Mandatory Green Power Option...

A broad literature has emerged over the past decades demonstrating that firms’ environmental strategies and practices are influenced by stakeholders and institutional pressures. Such findings are consistent with institutional sociology, which emphasizes the importance of regulatory, normative...

This paper extends transaction costs economics to analyze relationships between firms and regulatory agencies. It compares the economic efficiency of firm-agency governance structures for dealing with pollution reduction. The transaction costs of three ideal type governance structures are...