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Author: Ray Challen
Publisher: Edward Elgar Publishing
ISBN: 9781781956427
Category : Business & Economics
Languages : en
Pages : 262
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Book Description
'This is an excellent piece of work, applying the economic theory of property rights and transaction costs to the complex policy problems associated with water use in irrigation. Challen examines the determination of transaction costs and the way they interact with a realistic specification of property rights. He thereby avoids the two main defects found in much work in this area: first, the use of a simplistic division of property rights schemes, for example one based on polar categories of private property and common property, defined to mean open access, and second, a tendency to use the category of transaction costs as an unexamined "black box".' - John Quiggin, James Cook University, Australia 'A most encouraging trend in economics concerns the careful and non-teleological study of institutions. From an era in which institutions were completely ignored, through an era in which it was thought that institutions were mere constraints on otherwise beneficent behavior in markets, through an era in which it was thought that the purpose of institutions was to promote economic efficiency, we now seem to be firmly in an era in which it is understood that institutions are the very bedrock of economic and social interaction. The analysis of institutions will fall into incoherence if we insist on seeing them as teleological rather than as instrumental. Once there, we must still understand the purposes that different individuals and collectivities ascribe to particular institutional set ups. In this careful book Ray Challen offers clear conceptual guidance to the study of economic institutions. He also shows us how one can undertake the analysis of institutional choice. The problem setting is water resources in eastern Australia. The lessons are profoundly international, and the approach is refreshingly promising.' - Daniel W. Bromley, University of Wisconsin-Madison, US Conventional economic analysis of property rights in natural resources is too narrow and restrictive to allow for effective comparisons between alternative institutional structures. In this book, a conceptual framework is developed for the analysis of these structures with illustrative application to the allocation of water resources.
Author: Ray Challen
Publisher: Edward Elgar Publishing
ISBN: 9781781956427
Category : Business & Economics
Languages : en
Pages : 262
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Book Description
'This is an excellent piece of work, applying the economic theory of property rights and transaction costs to the complex policy problems associated with water use in irrigation. Challen examines the determination of transaction costs and the way they interact with a realistic specification of property rights. He thereby avoids the two main defects found in much work in this area: first, the use of a simplistic division of property rights schemes, for example one based on polar categories of private property and common property, defined to mean open access, and second, a tendency to use the category of transaction costs as an unexamined "black box".' - John Quiggin, James Cook University, Australia 'A most encouraging trend in economics concerns the careful and non-teleological study of institutions. From an era in which institutions were completely ignored, through an era in which it was thought that institutions were mere constraints on otherwise beneficent behavior in markets, through an era in which it was thought that the purpose of institutions was to promote economic efficiency, we now seem to be firmly in an era in which it is understood that institutions are the very bedrock of economic and social interaction. The analysis of institutions will fall into incoherence if we insist on seeing them as teleological rather than as instrumental. Once there, we must still understand the purposes that different individuals and collectivities ascribe to particular institutional set ups. In this careful book Ray Challen offers clear conceptual guidance to the study of economic institutions. He also shows us how one can undertake the analysis of institutional choice. The problem setting is water resources in eastern Australia. The lessons are profoundly international, and the approach is refreshingly promising.' - Daniel W. Bromley, University of Wisconsin-Madison, US Conventional economic analysis of property rights in natural resources is too narrow and restrictive to allow for effective comparisons between alternative institutional structures. In this book, a conceptual framework is developed for the analysis of these structures with illustrative application to the allocation of water resources.
Author: Douglass Cecil North
Publisher: Ics Press
ISBN: 9781558152113
Category : Economic development
Languages : en
Pages : 32
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Book Description
Author: Avinash K. Dixit
Publisher: MIT Press
ISBN: 9780262540988
Category : Business & Economics
Languages : en
Pages : 220
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Book Description
The Making of Economic Policy begins by observing that most countries' trade policies are so blatantly contrary to all the prescriptions of the economist that there is no way to understand this discrepancy except by delving into the politics. The same is true for many other dimensions of economic policy. Avinash Dixit looks for an improved understanding of the politics of economic policy-making from a transaction cost perspective. Such costs of planning, implementing, and monitoring an exchange have proved critical to explaining many phenomena in industrial organization. Dixit discusses the variety of similar transaction costs encountered in the political process of making economic policy and how these costs affect the operation of different institutions and policies. Dixit organizes a burgeoning body of research in political economy in this framework. He uses U.S. fiscal policy and the General Agreement on Tariffs and Trade (GATT) as two examples that illustrate the framework, and show how policy often deviates from the economist's ideal of efficiency. The approach reveals, however, that some seemingly inefficient practices are quite creditable attempts to cope with transaction costs such as opportunism and asymmetric information. Copublished with the Center for Economic Studies and the Ifo Institute
Author: Joseph T. Mahoney
Publisher: SAGE
ISBN: 1412905435
Category : Business & Economics
Languages : en
Pages : 273
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Book Description
The theoretical foundations of management strategy are identified and outlined in this text. Five theories are considered in the light of questions about how organisations operate efficiently, cost minimization, wealth creation, individual self-interest, and continued growth.
Author: Nick Hanley
Publisher: Edward Elgar Publishing
ISBN: 184980205X
Category : Business & Economics
Languages : en
Pages : 361
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Book Description
An impressive piece of work that deserves to be on every European agricultural economist s bookshelf. Jean-Christophe Bureau, European Review of Agricultural Economics This is an excellent text that could be used in specialist academic courses in environmental and natural resource economics, ecological economics and cost benefit analysis, as well as in interdisciplinary courses in public policy, planning and environmental management. David James, Australasian Journal of Environmental Management Cost Benefit Analysis (CBA) is one of the most useful tools of applied economics for the social appraisal of public projects and government policies. Nick Hanley and Edward Barbier show how CBA can be applied to environmental policy choice and environmental resource management. They cover the conceptual underpinnings of CBA, practical methods for applying CBA, and a wide range of case study applications from Europe, North America and developing countries. Issues such as the value of ecosystem services and the special problems posed for CBA by environmental management are brought into close focus. The textbook is aimed at students on inter-disciplinary courses as well as those studying environmental economics, welfare economics and public policy. It will also be of interest to people in the policy community, NGOs and consultancy sectors.
Author: Peter M. Haas
Publisher: MIT Press
ISBN: 9780262082181
Category : Nature
Languages : en
Pages : 466
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Book Description
Can environmental institutions be effective at bringing about a healthier environment? How? Institutions for the Earth takes a close look at the factors influencing organized responses to seven international environmental problems - oil pollution from tankers, acid rain in Europe, stratospheric ozone depletion, pollution of the North Sea and Baltic, mismanagement of fisheries, overpopulation, and misuses of farm chemicals to determine the roles that environmental institutions have played in attempting to solve them. Through rigorous, systematic comparison, it reveals common patterns that can lead to improvements in the collective management of these problems and suggests ways in which international institutions can further the case of environmental protection.The contributors identify three major functions performed by effective international environmental institutions: building national capacity, improving the contractual environment, and elevating governmental concern. The international organizations analyzed within this framework include the United Nations Environment Program, the Intergovernmental Maritime Organization, the Food and Agriculture Organization, numerous fisheries commissions, the Commission for Europe, the Oslo and Paris Commissions, the Helsinki Commission, and the United Nations Fund for Population Assistance.
Author: R. Maria Saleth
Publisher: World Bank Publications
ISBN: 9780821356562
Category : Nature
Languages : en
Pages : 418
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Book Description
This publication examines issues of water sector reform and performance from the perspectives of institutional economics and political economic studies. The authors develop an alternative quantitative assessment methodology based on the principle of 'institutional ecology', as well as data collected from 127 water experts from 43 countries and regions around the world using a cross-country review of recent water sector reforms within an institutional transaction cost framework.
Author: E. Woerdman
Publisher: Elsevier
ISBN: 0080473067
Category : Business & Economics
Languages : en
Pages : 341
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Book Description
The objective of this book is to analyze the institutional barriers to implementing market-based climate policy, as well as to provide some opportunities to overcome them. The approach is that of institutional economics, with special emphasis on political transaction costs and path dependence. Instead of rejecting the neoclassical approach, this book uses it where fruitful and shows when and why it is necessary to employ a new or neo-institutionalist approach. The result is that equity is considered next to efficiency, that the evolution and possible lock-in of both formal and informal climate institutions are studied, and that attention is paid to the politics and law of economic instruments for climate policy, including some new empirical analyses. The research topics of this book include the set-up costs of a permit trading system, the risk that credit trading becomes locked-in, the potential legal problem of grandfathering in terms of actional subsidies under WTO law or state aid under EC law, and the changing attitudes of various European officials towards restricting the use of the Kyoto Mechanisms.
Author: Mark Kanazawa
Publisher: Routledge
ISBN: 0429663439
Category : Business & Economics
Languages : en
Pages : 316
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Book Description
Natural Resources and the Environment: Economics, Law, Politics, and Institutions provides a new approach to the study of environmental and natural resource economics. It augments current contributions from the fields of public choice, law, and economics, and the burgeoning field of what used to be called the "New Institutional Economics," to describe, explain, and interpret how these new developments have been applied to better understand the economics of natural resources and the environment. This textbook takes a multi-disciplinary approach, which is essential for understanding complex environmental problems, and examines the issue from not only an economic perspective, but also taking into account law, politics, and institutions. In doing so, it provides students with a realistic understanding of how environmental policy is created and presents a comprehensive examination of real-world environmental policy. The book provides a comprehensive coverage of key issues, including renewable energy, climate change, agriculture, water resources, land conservation, and fisheries, with each chapter accompanied by learning resources, such as recommended further reading, discussion questions, and exercises. This textbook is essential reading for students and scholars seeking to build an interdisciplinary understanding of natural resources and the environment.
Author: Chihiro Suematsu
Publisher: Springer
ISBN: 331906889X
Category : Business & Economics
Languages : en
Pages : 273
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Book Description
All organizations, institutions, business processes, markets and strategies have one aim in common: the reduction of transaction costs. This aim is pursued relentlessly in practice, and has been perceived to bring about drastic changes, especially in the recent global market and the cyber economy. This book analyzes and describes “transactions” as a model, on the basis of which organizations, institutions and business processes can be appropriately shaped. It tracks transaction costs to enable a scientific approach instead of a widely used “state-of-the-art” approach, working to bridge the gap between theory and practice. This open access book analyzes and describes “transactions” as a model...
