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Institutions, Transaction Costs and Environmental Policy

Author

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  • Ray Challen

Abstract

Ray Challen introduces and develops a model for the analysis of the problems involved in institutional choice that takes into account constraints in institutional change imposed by history and the value of maintaining options in an uncertain future. The emphasis of institutional analysis shifts from assessing the benefits of particular property rights regimes in isolation to considering the distribution of property rights between levels of governments, communities and individuals in an institutional hierarchy. Conceptual developments in institutional theory are illustrated by using a case study of institutional change in the regulation of water use in irrigated agriculture.

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Suggested Citation

  • Ray Challen, 2000. "Institutions, Transaction Costs and Environmental Policy," Books, Edward Elgar Publishing, number 1961.
    • Handle: RePEc:elg:eebook:1961
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    File URL: https://www.elgaronline.com/view/book/9781781956427/9781781956427.xml
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    Keywords

    Economics and Finance; Environment;

    JEL classification:

    • Z0 - Other Special Topics - - General

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