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The Problem of Social Cost
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In this paper, it is argued that the suggested courses of action are inappropriate, in that they lead to results which are not necessarily, or even usually, desirable, and therefore, it is recommended to exclude the factory from residential districts (and presumably from other areas in which the emission of smoke would have harmful effects on others).Abstract:
This paper is concerned with those actions of business firms which have harmful effects on others. The standard example is that of a factory the smoke from which has harmful effects on those occupying neighbouring properties. The economic analysis of such a situation has usually proceeded in terms of a divergence between the private and social product of the factory, in which economists have largely followed the treatment of Pigou in The Economics of Welfare. The conclusions to which this kind of analysis seems to have led most economists is that it would be desirable to make the owner of the factory liable for the damage caused to those injured by the smoke, or alternatively, to place a tax on the factory owner varying with the amount of smoke produced and equivalent in money terms to the damage it would cause, or finally, to exclude the factory from residential districts (and presumably from other areas in which the emission of smoke would have harmful effects on others). It is my contention that the suggested courses of action are inappropriate, in that they lead to results which are not necessarily, or even usually, desirable.read more
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11 Postcards from the Edge
Luca Berchicci,Andrew King +1 more
TL;DR: In this paper, the sources of competitive advantage and the origin and function of self-regulatory institutions have been investigated in the context of business and the environment, and new insights into two topics of mainstream interest have been provided.
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Small Farms, Externalities, and the Dust Bowl of the 1930s
Zeynep K. Hansen,Gary D. Libecap +1 more
TL;DR: The origins of the Dust Bowl of the 1930s, one of the most severe environmental crises in North America in the twentieth century, are discussed in this paper. But the authors focus on the role of small farms in this crisis.
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Policy instruments for pollution control in developing countries
TL;DR: A careful examination of distributive concerns illustrate how the effect on the poor may need particular consideration and how groups with vested interests can help evaluate the probable success of such interventions.
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Is International Emissions Trading Always Beneficial
TL;DR: The NCCR-Climate Reference REME-ARTICLE-2004-002 Record created on 2006-08-25, modified on 2017-11-27 as mentioned in this paper, was used in this paper.
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Are consumers willing to pay more for electricity from cooperatives? Results from an online Choice Experiment in Germany
TL;DR: In this article, the authors developed a theoretical framework seeking to explain preferences for electricity supplied by cooperatives from a consumer perspective, drawing on a convenience sample of 287 German electricity consumers and Choice Experiment data from an online survey, they estimate Willingness-to-Pay values for organizational attributes of electricity suppliers.
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Book
The law of torts
TL;DR: A single volume introduction to contemporary tort and injury law is presented in this paper, which covers direct and intentional interference with person or property and explores their defenses, and reviews liabilities, damages, and the apportionment of responsibility among parties, and examines the criticism and choices in tort law.