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

Joschka Gerigk, Ian MacKenzie () and Markus Ohndorf ()

No 519, Discussion Papers Series from University of Queensland, School of Economics

Abstract: 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.

Date: 2014-05-13
New Economics Papers: this item is included in nep-ene, nep-env, nep-reg and nep-res
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Journal Article: A Model of Benchmarking Regulation: Revisiting the Efficiency of Environmental Standards (2015) Downloads
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