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Economics, Economists, and Environmental Policy

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  • Wallace E. Oates

    (University of Maryland)

Abstract

This paper is the Presidential Address to the Sixteenth Annual Convention of the Eastern Economic Association. It offers some reflections on the role that economics has, and can, play in the determination of environmental policy. These reflections address the choice of policy instruments for pollution control and the locus of regulatory authority. A review of economic instruments suggests that effluent fees may offer more protection against costly errors than does a system of transferable emission permits. Compelling arguments exist for greater decentralization of some environmental measures; environmental federalism can allow for measures that are tailored more closely to "local" conditions.

Suggested Citation

  • Wallace E. Oates, 1990. "Economics, Economists, and Environmental Policy," Eastern Economic Journal, Eastern Economic Association, vol. 16(4), pages 289-296, Oct-Dec.
    • Handle: RePEc:eej:eeconj:v:16:y:1990:i:4:p:289-296
    as

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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume16/V16N4P289_296.pdf
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    References listed on IDEAS

    as
    1. Robert W. Hahn, 1984. "Market Power and Transferable Property Rights," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 99(4), pages 753-765.
    2. Martin L. Weitzman, 1974. "Prices vs. Quantities," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(4), pages 477-491.
    3. Mestelman, Stuart, 1982. "Production externalities and corrective subsidies: A general equilibrium analysis," Journal of Environmental Economics and Management, Elsevier, vol. 9(2), pages 186-193, June.
    4. Terkla, David, 1984. "The efficiency value of effluent tax revenues," Journal of Environmental Economics and Management, Elsevier, vol. 11(2), pages 107-123, June.
    5. Peltzman, Sam & Tideman, T Nicolaus, 1972. "Local versus National Pollution Control: Note," American Economic Review, American Economic Association, vol. 62(5), pages 959-963, December.
    6. Hahn, Robert W, 1989. "Economic Prescriptions for Environmental Problems: How the Patient Followed the Doctor's Orders," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 95-114, Spring.
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    Cited by:

    1. Sverre Grepperud, 2015. "Optimal safety standards when accident prevention depends upon both firm and worker effort," European Journal of Law and Economics, Springer, vol. 39(3), pages 505-521, June.
    2. Thomas H. Klier & Richard H. Mattoon & Michael Ari Prager, 1996. "A mixed bag: assessment of market performance and firm trading behavior in the NOx RECLAIM program," Working Paper Series, Regional Economic Issues WP-96-12, Federal Reserve Bank of Chicago.
    3. Conrad, Klaus & Kohn, Robert E, 1996. "The US market for SO2 permits : Policy implications of the low price and trading volume," Energy Policy, Elsevier, vol. 24(12), pages 1051-1059, December.

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