Fixing Superfund : the effect of the proposed Superfund Reform Act of 1994 on transaction costs / Lloyd S. Dixon.

Format:

Book

Author/Creator:

Dixon, Lloyd S.

Contributor:

Rand Corporation.

Institute for Civil Justice (U.S.)

Language:

English

Subjects (All):

Pollution--Economic aspects--United States.

Pollution.

Transaction costs.

Liability for hazardous substances pollution damages--United States.

Liability for hazardous substances pollution damages.

Hazardous substances--Law and legislation--United States--Compliance costs.

Hazardous substances.

United States. Comprehensive Environmental Response, Compensation, and Liability Act of 1980.

United States.

Physical Description:

1 online resource (xxii, 89 pages)

Place of Publication:

Santa Monica, CA : RAND Corporation, 1994.

Summary:

This report focuses on the possible effect of the proposed Superfund Reform Act of 1994 on transaction costs--costs resulting not from cleanup but from assigning liability for cleanup among the various parties. The analysis is based on previous work on transaction costs performed at RAND, and on telephone interviews with various stakeholders in the Superfund process. Stakeholders interviewed include representatives of large and small potentially responsible parties, insurers, reinsurers, the Environmental Protection Agency, the Department of the Treasury, environmental groups, and researchers. Because of its focus on transaction costs, this report does not address other important effects of the proposed legislation. For example, it does not discuss the effect of the proposed reforms on EPA's budget or on the relationship between the costs of Superfund cleanups and the benefits of cleanups for human health and the environment.

Contents:

Introduction PRP-PRP interaction PRP-government interaction PRP-insurer and insurer-reinsurer interactions Community-government and community-PRP interactions Conclusions Appendix: Derivation of estimated overall private-sector transaction-cost share