A model of benchmarking regulation: revisiting the efficiency of environmental standards

Gerigk, Joschka, MacKenzie, Ian A. and Ohndorf, Markus (2014). A model of benchmarking regulation: revisiting the efficiency of environmental standards. 519, School of Economics, University of Queensland.

Author Gerigk, Joschka
MacKenzie, Ian A.
Ohndorf, Markus
Title A model of benchmarking regulation: revisiting the efficiency of environmental standards
School, Department or Centre School of Economics
Institution University of Queensland
Report Number 519
Publication date 2014-05-13
Language eng
Abstract/Summary The conventional economic argument favors the use of market-based instruments over ‘command-and-control’ regulation. This viewpoint, however, is often limited in the description and characteristics of the latter; namely, environmental standards are often portrayed as lacking structured abatement incentives. Yet contemporary forms of command-and-control regulation, such as standards stipulated via benchmarking, have the potential to be efficient. We provide a first formal analysis of environmental standards based on performance benchmarks. We show, in a variety of contexts, that standards can provide efficient incentives to improve environmental performance.
Q-Index Status Provisional Code
Institutional Status UQ

Document type: Working Paper
Collection: School of Economics Publications
 
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Created: Tue, 24 Feb 2015, 14:37:19 EST by Alys Hohnen on behalf of School of Economics