1.Center for Advanced Studies in Law and Economics, University of Bonn, Bonn, Germany ;2.Public Economics Group, University of Marburg, Am Plan 2, 35037, Marburg, Germany ;3.CESifo, Munich, Germany ;4.EconomiX, Paris, France ;
Abstract:
Environmental Economics and Policy Studies - This paper examines the consequences of an increase in the expected fine for non-compliance with an environmental design standard for an industry with...