Information Asymmetries, Uncertainties, and Cleanup Delays at Superfund Sites

摘要

Superfund cleanup has been extremely slow. Traditional analysis has centered aroundre- ducing negotiation and litigation to expedite the cleanup process. We investigate other factors which provide possible incentives for delay, namely, discounting, risk aversion, and compensa- tion for off - site damage. We find that liability share plays an essential role in PRPs' incentives to delay.