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date: 21 November 2019

Abstract and Keywords

This chapter begins with a brief general overview of the economics of environmental law. It then focuses on recent developments in the field of environmental law and economics, with an emphasis on the experience of the United States. When setting environmental policy, decision makers must address two general types of questions. The first concerns the ends of environmental policy, and examines the socially desirable level of environmental quality. The second type of question concerns the means of policy making and focuses on the types of regulatory instruments that will be used and the allocation of responsibility between governmental actors. Section 2 addresses the first type of question concerning the goals of environmental policy. Sections 3 and 4 address the means of environmental policy, focusing on instrument choice and jurisdictional allocation, respectively.

Keywords: economics, environmental law, environmental policy, instrument choice, jurisdiction

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