The Evolution of Hazardous Waste Programs

Probst, Katherine N.; Beierle, Thomas C.

doi:10.4324/9781315074276

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“…). Similarly, public financing provides grants to subsidize the proper disposal of waste in industries where firms handle hazardous materials (Probst and Beierle ).…”

Section: Introductionmentioning

confidence: 99%

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Policy Incentives for Dangerous (But Necessary) Operations

Serpa

Krishnan

2016

Production and Operations Management

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In industries where firms perform dangerous (but necessary) operations, liability costs—due to potential harm to third parties—can be significant. Firms may therefore find it optimal to exit the market, and this may lead to an inefficiently low number of incumbents. A social planner can discourage exit by offering appropriately designed subsidies. Ex ante subsidies defray the costs associated with making operations safer (e.g., funds to subsidize the purchase of safety equipment). Ex post subsidies mitigate the financial damages caused by an accident (e.g., funds to defray the cost of cleaning up a toxic spill). We consider a model where (i) firms have private information about their ability to improve reliability and (ii) reliability investments are unobservable. We demonstrate that when the social value of reliability outweighs the benefit of increased competition, it is optimal to offer ex ante subsidies alone (i.e., to subsidize the cost of making operations safer). Conversely, when the benefits of competition outweigh the benefits of reliability, a combination of ex ante and ex post subsidies is optimal (i.e., not only to subsidize safer operations, but also to share the costs of a potential accident).

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“…). Similarly, public financing provides grants to subsidize the proper disposal of waste in industries where firms handle hazardous materials (Probst and Beierle ).…”

Section: Introductionmentioning

confidence: 99%

“…As a case in point, the Vaccine Assistance Act (Section 317) provides funding to cover the cost associated with vaccine storage (Rein et al 2006). Similarly, public financing provides grants to subsidize the proper disposal of waste in industries where firms handle hazardous materials (Probst and Beierle 2014).…”

Section: Introductionmentioning

confidence: 99%

Policy Incentives for Dangerous (But Necessary) Operations

Serpa

Krishnan

2016

Production and Operations Management

View full text Add to dashboard Cite

show abstract

The Evolution of Hazardous Waste Programs

Cited by 1 publication

References 0 publications

Policy Incentives for Dangerous (But Necessary) Operations

Policy Incentives for Dangerous (But Necessary) Operations

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