This paper examines the processes used in the United States and Mexico to assess the economic costs and benefits of environmental improvement, the kinds of information obtained from these procedures, and the additional knowledge that is needed about both elements to improve understanding of the...

The two distinct approaches to environmental policy include direct regulation-sometimes called 'command and control' policies-and regulation by economic, or market-based incentives. This book is the first to compare the costs and outcomes of these approaches by examining realworld applications....