The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Hazardous Waste, Economics of

  • Hilary Sigman
Reference work entry


Public policies for hazardous waste address both current waste management and the clean-up of a legacy of contamination. Policies for current waste management should provide incentives for waste generators that are sensitive to the varying hazards posed by waste. Although conventional regulations have difficulty accomplishing this variation, alternative incentive-based policies show promise empirically. Policies for clean-up of contamination often fail to strike an appropriate balance between hazards posed by the contamination and costs of clean-up. In addition, relying on legal liability to fund these clean-ups has consequences for the costs of clean-up and possibly for the redevelopment of contaminated land.


Brownfield sites Compensation Environmental economics Environmental equity Environmental externalities Environmental liability Environmental Liability Directive (EU) Hazardous waste management Hazardous waste regulation Hazardous waste, economics of Hedonic property values Legal liability Strict liability Superfund (USA) Waste-end taxes 

JEL Classifications

Q5 Q53 K32 H23 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Hilary Sigman
    • 1
  1. 1.