Comparing the Efficiency of Remedies for Environmental Harm: US v. EU
Abstract
One central question in the economics of torts is: what is the optimal level of damages? This paper focuses
on the issues of inaccuracy that may occur when dealing with environmental damage assessments. Given the
nature of loss, the assessment of environmental harm raises several issues of inaccuracy that scholars largely
investigated. Traditionally, they deal with the assessment of the extent of the injury, the causal links and
the specific characteristics of the considered remedy. In the wake of this scholarship, the paper looks closer
at the existing remedy of restoration in order to determine whether it is “on average accurate” and it
draws on two case studies (US and EU) in order to test whether the law is in line with the economic theory.
on the issues of inaccuracy that may occur when dealing with environmental damage assessments. Given the
nature of loss, the assessment of environmental harm raises several issues of inaccuracy that scholars largely
investigated. Traditionally, they deal with the assessment of the extent of the injury, the causal links and
the specific characteristics of the considered remedy. In the wake of this scholarship, the paper looks closer
at the existing remedy of restoration in order to determine whether it is “on average accurate” and it
draws on two case studies (US and EU) in order to test whether the law is in line with the economic theory.
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Comparative Law Review is registered at the Courthouse of Monza (Italy) - Nr. 1988 - May, 10th 2010.
Editors - Prof. Giovanni Marini, Prof. Pier Giuseppe Monateri, Prof. Tommaso Edoardo Frosini, Prof. Salvatore Sica, Prof. Alessandro Somma, Prof. Giuseppe Franco Ferrari, Prof. Massimiliano Granieri.
Direttore responsabile:Alessandro Somma