Environmental Law and Economics Theory and Practice

In Environmental Law and Economics, Michael G. Faure and Roy A. Partain provide a detailed overview of the law-and-economics methodology developed and employed by environmental lawyers and policymakers. The authors demonstrate how this approach can transcend political divisions in the context of international environmental law, environmental criminal law, and the property rights approach to environmental law. Private law solutions and public regulatory approaches are also explored, including traditional command-and-control and market-based forms of regulation. The book not only shows how the law-and-economics framework can be used to protect the environment, but also to examine deeper questions involving environmental federalism and the effectiveness of environmental law in developing economies. In clear, digestible prose that does not require readers to possess a background in microeconomics or mathematics, the authors introduce the theory and practice of environmental law and economics that have been so critical in the creation of robust environmental policy.

1. Introduction; 2. Environmental harm and efficiency; 3. Property rights approach to environmental law; 4. Environmental standard setting; 5. Principles of environmental law and environmental economics; 6. Pricing environmental harm; 7. Market-based instruments; 8. Liability rules; 9. Environmental regulation; 10. Environmental crime; 11. Insurance for environmental damage; 12. Compensation for environmental damage; 13. Environmental federalism; 14. The role of environmental law in developing countries; 15. Epilogue.

Michael G. Faure is Professor of Comparative Law and Economics at the School of Law, Erasmus Universiteit Rotterdam, and Professor of International and Comparative Environmental Law at Universiteit Maastricht. He is also Academic Director of the Maastricht European Institute for Transnational Legal Research (METRO), the Ius Commune Research School, and the European Doctorate in Law and Economics (EDLE) programme. He is an attorney at the Antwerp Bar and publishes in the areas of environmental criminal law, tort and insurance and economic analysis of accident law.
Roy A. Partain is Chair and Professor of Commercial Law and Sustainability at the University of Aberdeen, as well as director of the Ph.D. in Law program and several LL.M. and LL.B. programs. His research explores the nexus between commercial law and sustainable development, including the liability issues arising from emergent and innovative technologies. He is a Member of the State Bar of Texas. He has advised and worked on research projects underwritten by ministries and research institutions in East Asia.