RAND Research on Superfund Transaction Costs PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download RAND Research on Superfund Transaction Costs PDF full book. Access full book title RAND Research on Superfund Transaction Costs by Lloyd S. Dixon. Download full books in PDF and EPUB format.
Author: Lloyd S. Dixon Publisher: ISBN: Category : Hazardous substances Languages : en Pages : 6
Book Description
This publication contains the written statement of Lloyd S. Dixon submitted on November 4, 1993 to the Subcommittee on Superfund, Recycling, and Solid Waste of the United States Senate Environment and Public Works Committee. The author addresses the following questions: What is our best estimate of transaction-cost share at Superfund sites to date? What will the transaction-cost share likely be when cleanup is complete? How does transaction-cost share vary by size of firm? What reforms might be considered to reduce transaction costs?
Author: Lloyd S. Dixon Publisher: ISBN: Category : Hazardous substances Languages : en Pages : 6
Book Description
This publication contains the written statement of Lloyd S. Dixon submitted on November 4, 1993 to the Subcommittee on Superfund, Recycling, and Solid Waste of the United States Senate Environment and Public Works Committee. The author addresses the following questions: What is our best estimate of transaction-cost share at Superfund sites to date? What will the transaction-cost share likely be when cleanup is complete? How does transaction-cost share vary by size of firm? What reforms might be considered to reduce transaction costs?
Author: Lloyd S. Dixon Publisher: RAND Corporation ISBN: 9780833014702 Category : Liability for hazardous substances pollution damages Languages : en Pages : 0
Book Description
This report will be of interest to those evaluating Superfund's liability-based approach to cleaning up the thousands of abandoned or inactive sites across the U.S. that are contaminated with hazardous substances.
Author: Jan Paul Acton Publisher: ISBN: Category : Business & Economics Languages : en Pages : 120
Book Description
Lloyd Dixon, a RAND economist, recently testified before the U.S. House of Representatives Committee on Public Works and Transportation regarding transaction costs involved in the cleanup of hazardous waste sites. Transaction costs are those that do not contribute directly to the understanding or cleanup of a site. Insurer transaction costs, he stated, were high: 88% of the total expenditures. They were split between coverage disputes and defense of policyholders. For large firms who were potentially responsible parties (PRPs), transaction costs, primarily for legal counsel, averaged 21% of total outlays, but decreased proportionally as cleanup progressed. These costs varied across sites, averaging 7% of the total where only a single PRP was involved and 39% were multiple PRPs were. Dixon concluded his testimony by suggesting that these facts may not tell much about the future, since insurance coverage issues are still unresolved, PRPs involved in cleanup may yet sue non-participating PRPs, and insurers may pursue their reinsurers as their own losses mount.
Author: Lloyd S. Dixon Publisher: RAND Corporation ISBN: Category : History Languages : en Pages : 116
Book Description
Focuses on the possible effect of the proposed Superfund Reform Act of 1994 on transaction costs resulting not from cleanup but from assigning liability for cleanup among the various parties.
Author: Lloyd S. Dixon Publisher: ISBN: 9780833020673 Category : Factory and trade waste Languages : en Pages : 5
Book Description
Lloyd Dixon, a RAND economist, recently testified before the U.S. House of Representatives Committee on Public Works and Transportation regarding transaction costs involved in the cleanup of hazardous waste sites. Transaction costs are those that do not contribute directly to the understanding or cleanup of a site. Insurer transaction costs, he stated, were high: 88% of the total expenditures. They were split between coverage disputes and defense of policyholders. For large firms who were potentially responsible parties (PRPs), transaction costs, primarily for legal counsel, averaged 21% of total outlays, but decreased proportionally as cleanup progressed. These costs varied across sites, averaging 7% of the total where only a single PRP was involved and 39% where multiple PRPs were. Dixon concluded his testimony by suggesting that these facts may not tell much about the future, since insurance coverage issues are still unresolved, PRPs involved in cleanup may yet sue non-participating PRPs, and insurers may pursue their reinsurers as their own losses mount.
Author: Richard L. Revesz Publisher: Routledge ISBN: 1317354796 Category : Business & Economics Languages : en Pages : 169
Book Description
Originally published in 1995, Analyzing Superfund outlines the key issues of the superfund reauthorization debate in the United States. The Superfund law faced criticism for being wasteful, inefficient and expensive. These papers sought to shed light on this argument in relation to clean-up standards, the liability regime, transaction costs and natural resource damage. This title will be of interest to students of Environmental Studies and professionals
Author: Publisher: DIANE Publishing ISBN: 9780788105562 Category : Languages : en Pages : 64
Book Description
Analyzes the future costs to the public and private sectors that can be expected under Superfund's current policies. Includes glossary of Superfund terms. Charts and tables.
Author: Katherine N. Probst Publisher: Brookings Institution Press ISBN: 9780815715689 Category : Business & Economics Languages : en Pages : 194
Book Description
One of the difficulties associated with Superfund—the federal government's program for cleaning up toxic waste sites in the United States—is the poor understanding we have about who is actually bearing its costs. While it is known that the tax on chemical and petroleum feedstocks raises about $570 million annually for the Superfund Trust Fund and the corporate environmental tax raises another $460 millino each year, further reliable data are only now becoming available. Researchers are beginning to understand how much potentially responsible parties and their insurers are spending on both transaction costs and on-site cleanups. Unfortunately, this is only the first part of the puzzle. Ultimately, these costs are borne by individuals--as consumers of the products or services provided or as share- or bond-holders, employees, or managers of the company. To date, no one has attempted to estimate the distribution of initial costs under the Superfund liability system or examined carefully the indirect effects of the costs of the Superfund program on other industries. In this book, the authors develop information on who pays the costs and who bears the burden under the current liability scheme in Superfund on a site-by-site basis. They look at short-term financial implications of changes in liability and taxes on key sectors affected by Superfund: chemicals, oil, mining, wood preserving, and commercial property-casualty insurers. They analyze the incidence of different taxing mechanisms and compare and contrast the financial effects on specific industries of the current Superfund program and of several alternative lability and tax-based funding mechanisms available. The alternative liability approaches examined include a scenario in which liability is eliminated for all sites created before Superfund was enacted, as well as a scenario in which parties are released from liability at sites where municipal and industrial wastes were codisposed. Because any change in liability will require a corollary change in trust fund revenues, the authors also assess the economic implications of a variety of taxes that could be used to finance the creation of a larger trust fund for site cleanups. These include an increase in the corporate environmental tax and the implemenation of new taxes, such as an excise tax on commercial insurance. Don Fullerton is a professor of economics and public policy at Carnegie Mellon, H. John Heinz III School of Public Policy and Management. Robert E. Litan, is a senior fellow at Brookings, and formerly was deputy assistant attorney general in the Antitrust Division of the U.S. Department of Justice. Paul R. Portney is vice president and senior fellow at resources for the Future. Katherine N. Probst is a fellow in the Center for Risk Management at Resources for the Future.
Author: Lloyd S. Dixon Publisher: RAND Corporation ISBN: Category : Business & Economics Languages : en Pages : 86
Book Description
Recent congressional proposals to reform the federal Superfund program release potentially responsible parties (PRPs) that are small in size or that only played a minor role at the site from liability for cleanup costs. These reforms transfer the cleanup costs of parties released to the Superfund Trust Fund. This report estimates the number of PRPs that would be released and the cleanup costs that would be transferred to the Fund by recent proposals. It also estimates the costs transferred to the Fund per firm released and the financial consequences for those PRPs that remain liable. Releasing from liability firms that contributed only a small proportion of the waste to a site appears to be more cost-effective than releasing small firms. In addition, although there is evidence that large firms will benefit from the transfer of small firms' costs to the Fund, the effect of such a transfer is ambiguous. Implementing reforms that would release small firms or small-volume firms and transferring their volume-based cleanup costs to the Fund may prove costly in terms of additional transaction costs.
Author: Lloyd S. Dixon
Author: Lloyd S. Dixon
Author: Lloyd S. Dixon
Author: Jan Paul Acton
Author: Lloyd S. Dixon
Author: Lloyd S. Dixon
Author: Richard L. Revesz
Author: Lloyd S. Dixon
Author: 
Author: Katherine N. Probst
Author: Lloyd S. Dixon