Liability for environmental damages: incentives for precaution and risk allocation
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Tübingen
Mohr Siebeck
1998
|
| Schriftenreihe: | Kieler Studien
292 |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XVI, 225 S. |
| ISBN: | 3161469992 |
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Datensatz im Suchindex
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| adam_text |
Contents
A. Introduction 1
B. Environmental Liability Legislation — An Overview of Selected
Liability Systems 7
I. Characteristics of Different Environmental Liability Regimes. 7
II. Environmental Liability Regimes in the United States and
Japan 9
1. Liability for Environmental Damages in the United States. 10
2. Liability for Environmental Damages in Japan 14
III. The Structure of the German Environmental Legislation 18
1. Legal Statutes 19
2. Statutory Instruments 23
3. Guiding Principles 25
IV. The Role of the Environmental Liability Act (UmweltHG) 26
1. Liability for Pollution Damages under the Civil Code 26
2. Specific Environmental Law Statutes 28
3. Strict Liability under Other Specific Acts 29
V. Liability under the Environmental Liability Act (UmweltHG). 31
1. The Scope of Liability 31
2. Proving Causation and Access to Information 34
3. Multiple Defendants 37
4. Precautionary Cover for the Liability Risk 38
5. Historical Damages 39
VI. The Provisions of the UmweltHG and the Casuistics of
Environmental Pollution 40
VII. Potential Developments of Environmental Liability 45
1. Liability Provisions of the Environmental Code (UGB) 45
2. Environmental Liability in the European Union 47
VIII. Concluding Remarks 50
VIII Contents
C. Fundamental Aspects of Liability — An Assessment in the View
of the Coase Theorem 52
I. Economic Analysis of Liability Law: A Review of the
Literature 54
1. Precautionary Incentives 54
2. Risk Allocation 57
3. The Problem of Causation 57
4. Information Requirements 58
5. Incentives to Sue, Pre Trial Bargaining, and Settlement
Behaviour 60
II. The Coase Theorem and Liability for Environmental Damages 61
1. An Illustration of the Coase Theorem for Environmental
Risk 62
2. Relevance of the Coase Theorem for Environmental Policy 64
3. Methodological Assessment of the Coase Theorem 66
4. Transaction Cost Limits to Private Bargaining over
Externalities 67
5. Rationale for Government Intervention 73
III. Reassessing the Role of Liability 76
D. Theoretical Analysis of Environmental Liability — The Case of
Uncertain Causation and Imperfect Information 79
I. Enforcement of Legal Claims for Environmental Damages 79
II. Effects of the Causality Presumption of the UmweltHG in a
Formal Model 82
1. The Basic Model 82
2. Comparative Static Analysis 87
3. Multi Dimensional Precautionary Measures 94
4. Assessing the Precautionary Implications of the
UmweltHG Causality Presumption 100
III. A General Principal Agent Model of Environmental Liability . 102
1. The Basic Framework 103
2. The Optimisation Problem of the Policy Maker 107
3. The Allocation of Environmental Risk 111
Contents IX
4. The Benchmark Case of Observable Precautionary
Measures 114
5. The Case of Unobservable Precautionary Measures 117
IV. A Simplified Principal Agent Model of Environmental
Liability 121
1. Determination of the Optimal Liability Rule 124
2. Policy Implications of the Simplified Model 130
V. Scope and Limitations of the Theoretical Analysis —
Implications for the Liability Debate 132
1. Limitations of the Theoretical Framework 132
2. Summary of the Theoretical Results 138
E. The Economic Consequences of the German Environmental
Liability Act — Empirical Evidence for the Chemical Industry . 141
I. The Event Study Methodology 143
1. Normal Returns 144
2. Estimation Period and Event Period 145
3. Event Date Uncertainty 147
4. Multivariate Regression Models 148
II. Previous Event Studies on Environmental Policy Issues 150
1. The Role of Environmental Regulation 151
2. The Impact of Environmental Litigation 153
3. Environmental Accidents 154
HI. Stock Market Response to the UmweltHG in the German
Chemical Industry 155
1. The Data 155
2. The Legislative Process 157
3. The Impact of Environmental Liability 159
4. Evaluation of the Regression Results 165
IV. Concluding Remarks 171
F Summary and Conclusions 173
X Contents
Appendix 178
I. Glossary of the Legal Terminology 178
II. Provisions of German Legislation Relevant to Environmental
Liability 179
1. The Civil Code (Biirgerliches Gesetzbuch (BGB)) 179
2. Water Resources Act (WHG) 180
3. Federal Air Pollution Control Act (BImSchG) 180
4. Environmental Liability Act (UmweltHG) 181
III. EU Directive on Civil Liability for Damage Caused by Waste
as Amended 185
IV. Comparative Statics of the Multidimensional Pollution
Control Model under the Conditional Causality Presumption. 190
1. Costs of Precaution 191
2. Environmental Risk 192
3. Redefinition of the Standard of Proper Operation 193
V. Limitations of the First Order Approach 194
VI. Derivation of Some Properties of the Optimal Liability Rule. 196
VII. Monitoring Pollution Control Activities in the General Model 198
VIII. Risk Aversion on the Part of the Policy Maker 200
IX. Tables 201
References 203
Index 222
List of Tables
Table 1 — Criminal Offences againstthe Environment, 1981 1993 21
Table 2 — The Structure of Environmental Law in Germany 23
Table 3 — Selected Statutory Instruments 24
Table 4 — The UmweltHG in the Light of the Casuistics of
Environmental Pollution 44
Table 5 — The Effects of Incomplete Information on Bargaining
Efficiency 73
Table 6 — Pareto optimal Allocation of Environmental Risk 114
Table 7 — Summary of Previous Event Studies on Environmental
Issues 152
Table 8 — Calendar of Events, November 1986 January 1991 157
Table 9 — Estimates of the Impact of the Revision of Environmental
Liability on the Chemical Industry's Specific Return
Component, October 1981 December 1990 162
Table 10 — Estimates of the Impact of the Revision of Environmental
Liability on the Chemical Industry's Market Dependent
Return Component, October 1981 December 1990 164
Table 11 — Tests of the Adequacy for the Market Model, 1981 1990 167
Table Al — Selected Federal Environmental Legislation in Germany 201
Table A2 — Firms Included in the Portfolio for the Chemical Industry 202
XII
List of Figures
Figure 1 — Environmental Risk and the Coase Bargaining Solution 62
Figure 2 — Different Types of Stochastic Influence Factors 80
Figure 3 — Causality Presumption under the UmweltHG 84
Figure 4 — Imperfect Observability of Precaution 85
Figure 5 — The Role of the Standard of Proper Operation 90
Figure 6 — The Role of Differing Degrees of Uncertainty 92
Figure 7 — Overall Impact of the Causality Presumption in the Multi¬
dimensional Precaution Case 98
Figure 8 — Stylised Timing of Liability in a Principal Agent Model 104
Figure 9 — The Impact of Precautionary Effort on the Probability Dis¬
tribution of Environmental Damages 108
Figure 10 — Optimal Liability Share in the Linear Principal Agent
Model 128
Figure 11 — Estimation Period and Event Period 145
Figure 12 — Rates of Return to the Chemical Industry and the Market
Index, 1981:10 1990:12 168
Figure 13 — Relationship between Rates of Return to the Chemical
Industry and the Market Index, 1981:10 1986:10 170
Figure 14 — CUSUM Test Statistic for Parameter Stability, 1981 1990. 171 |
| any_adam_object | 1 |
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| geographic | Deutschland Deutschland (DE-588)4011882-4 gnd |
| geographic_facet | Deutschland |
| id | DE-604.BV012015689 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-20T04:52:46Z |
| institution | BVB |
| isbn | 3161469992 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-008132502 |
| oclc_num | 231772080 |
| open_access_boolean | |
| owner | DE-12 DE-M158 DE-N2 DE-355 DE-BY-UBR DE-703 DE-19 DE-BY-UBM DE-473 DE-BY-UBG DE-521 DE-634 DE-83 DE-188 |
| owner_facet | DE-12 DE-M158 DE-N2 DE-355 DE-BY-UBR DE-703 DE-19 DE-BY-UBM DE-473 DE-BY-UBG DE-521 DE-634 DE-83 DE-188 |
| physical | XVI, 225 S. |
| publishDate | 1998 |
| publishDateSearch | 1998 |
| publishDateSort | 1998 |
| publisher | Mohr Siebeck |
| record_format | marc |
| series | Kieler Studien |
| series2 | Kieler Studien |
| spelling | Bartsch, Elga Verfasser aut Liability for environmental damages incentives for precaution and risk allocation Elga Bartsch Tübingen Mohr Siebeck 1998 XVI, 225 S. txt rdacontent n rdamedia nc rdacarrier Kieler Studien 292 Aansprakelijkheid gtt Assurance de responsabilité pour dommages à l'environnement ram Economische aspecten gtt Environnement - Protection - Allemagne ram Milieubeleid gtt Milieuverontreiniging gtt Responsabilité pour dommages à l'environnement - Allemagne ram Responsabilité pour dommages à l'environnement - Aspect économique - Allemagne ram Umweltpolitik Wirtschaft Liability for environmental damages -- Germany Environmental risk assessment -- Germany Umwelthaftung (DE-588)4236015-8 gnd rswk-swf Versicherung (DE-588)4063173-4 gnd rswk-swf Wirkungsanalyse (DE-588)4224214-9 gnd rswk-swf Coase-Theorem (DE-588)4301024-6 gnd rswk-swf Chemische Industrie (DE-588)4009848-5 gnd rswk-swf Schadensersatz (DE-588)4051927-2 gnd rswk-swf Industrie (DE-588)4026779-9 gnd rswk-swf Agency-Theorie (DE-588)4126353-4 gnd rswk-swf Umweltschaden (DE-588)4117286-3 gnd rswk-swf Risikomanagement (DE-588)4121590-4 gnd rswk-swf Deutschland Deutschland (DE-588)4011882-4 gnd rswk-swf Umweltschaden (DE-588)4117286-3 s Versicherung (DE-588)4063173-4 s DE-604 Industrie (DE-588)4026779-9 s Risikomanagement (DE-588)4121590-4 s Schadensersatz (DE-588)4051927-2 s Deutschland (DE-588)4011882-4 g Chemische Industrie (DE-588)4009848-5 s Umwelthaftung (DE-588)4236015-8 s Wirkungsanalyse (DE-588)4224214-9 s Coase-Theorem (DE-588)4301024-6 s Agency-Theorie (DE-588)4126353-4 s Kieler Studien 292 (DE-604)BV000001650 292 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=008132502&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Bartsch, Elga Liability for environmental damages incentives for precaution and risk allocation Kieler Studien Aansprakelijkheid gtt Assurance de responsabilité pour dommages à l'environnement ram Economische aspecten gtt Environnement - Protection - Allemagne ram Milieubeleid gtt Milieuverontreiniging gtt Responsabilité pour dommages à l'environnement - Allemagne ram Responsabilité pour dommages à l'environnement - Aspect économique - Allemagne ram Umweltpolitik Wirtschaft Liability for environmental damages -- Germany Environmental risk assessment -- Germany Umwelthaftung (DE-588)4236015-8 gnd Versicherung (DE-588)4063173-4 gnd Wirkungsanalyse (DE-588)4224214-9 gnd Coase-Theorem (DE-588)4301024-6 gnd Chemische Industrie (DE-588)4009848-5 gnd Schadensersatz (DE-588)4051927-2 gnd Industrie (DE-588)4026779-9 gnd Agency-Theorie (DE-588)4126353-4 gnd Umweltschaden (DE-588)4117286-3 gnd Risikomanagement (DE-588)4121590-4 gnd |
| subject_GND | (DE-588)4236015-8 (DE-588)4063173-4 (DE-588)4224214-9 (DE-588)4301024-6 (DE-588)4009848-5 (DE-588)4051927-2 (DE-588)4026779-9 (DE-588)4126353-4 (DE-588)4117286-3 (DE-588)4121590-4 (DE-588)4011882-4 |
| title | Liability for environmental damages incentives for precaution and risk allocation |
| title_auth | Liability for environmental damages incentives for precaution and risk allocation |
| title_exact_search | Liability for environmental damages incentives for precaution and risk allocation |
| title_full | Liability for environmental damages incentives for precaution and risk allocation Elga Bartsch |
| title_fullStr | Liability for environmental damages incentives for precaution and risk allocation Elga Bartsch |
| title_full_unstemmed | Liability for environmental damages incentives for precaution and risk allocation Elga Bartsch |
| title_short | Liability for environmental damages |
| title_sort | liability for environmental damages incentives for precaution and risk allocation |
| title_sub | incentives for precaution and risk allocation |
| topic | Aansprakelijkheid gtt Assurance de responsabilité pour dommages à l'environnement ram Economische aspecten gtt Environnement - Protection - Allemagne ram Milieubeleid gtt Milieuverontreiniging gtt Responsabilité pour dommages à l'environnement - Allemagne ram Responsabilité pour dommages à l'environnement - Aspect économique - Allemagne ram Umweltpolitik Wirtschaft Liability for environmental damages -- Germany Environmental risk assessment -- Germany Umwelthaftung (DE-588)4236015-8 gnd Versicherung (DE-588)4063173-4 gnd Wirkungsanalyse (DE-588)4224214-9 gnd Coase-Theorem (DE-588)4301024-6 gnd Chemische Industrie (DE-588)4009848-5 gnd Schadensersatz (DE-588)4051927-2 gnd Industrie (DE-588)4026779-9 gnd Agency-Theorie (DE-588)4126353-4 gnd Umweltschaden (DE-588)4117286-3 gnd Risikomanagement (DE-588)4121590-4 gnd |
| topic_facet | Aansprakelijkheid Assurance de responsabilité pour dommages à l'environnement Economische aspecten Environnement - Protection - Allemagne Milieubeleid Milieuverontreiniging Responsabilité pour dommages à l'environnement - Allemagne Responsabilité pour dommages à l'environnement - Aspect économique - Allemagne Umweltpolitik Wirtschaft Liability for environmental damages -- Germany Environmental risk assessment -- Germany Umwelthaftung Versicherung Wirkungsanalyse Coase-Theorem Chemische Industrie Schadensersatz Industrie Agency-Theorie Umweltschaden Risikomanagement Deutschland |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=008132502&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| volume_link | (DE-604)BV000001650 |
| work_keys_str_mv | AT bartschelga liabilityforenvironmentaldamagesincentivesforprecautionandriskallocation |