How Can Transaction Cost Economics Help Regulators Choose Between Environmental Policy Instruments?

Research in Law & Economics, Forthcoming

Posted: 11 Jan 2007

See all articles by Douadia Bougherara

Douadia Bougherara

affiliation not provided to SSRN

Gilles Grolleau

Montpellier SupAgro and Researcher at LAMETA

Naoufel Mzoughi

INRA Ecodéveloppement

Abstract

Environmental economics has employed the seminal contribution of Ronald H. Coase (1960) intensively but has remained relatively unaffected by the contributions of perhaps his most influential follower, Oliver E. Williamson. As an initial step in addressing this oversight, we apply the analytical framework of discrete structural alternatives to the choice of policy instruments. Environmental-related transactions, which differ in their attributes, are aligned with categories of policy instruments, which differ in their cost and competence, so as to effect a discriminating - mainly transaction costs-economizing - result. Insightful strategic and policy implications are stressed.

Keywords: Transaction cost economics, Williamson, Environmental policy

JEL Classification: D23, K32, Q58

Suggested Citation

Bougherara, Douadia and Grolleau, Gilles and Mzoughi, Naoufel, How Can Transaction Cost Economics Help Regulators Choose Between Environmental Policy Instruments?. Research in Law & Economics, Forthcoming, Available at SSRN: https://ssrn.com/abstract=956570

Douadia Bougherara

affiliation not provided to SSRN

Gilles Grolleau

Montpellier SupAgro and Researcher at LAMETA ( email )

France

Naoufel Mzoughi (Contact Author)

INRA Ecodéveloppement ( email )

Domaine Saint-Paul - Site Agroparc
Avignon cedex 9, 84914
France

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