The significance of global environmental issues have been further propelled to the forefront, with the current public awareness highlighted by the 2007 United Nations Intergovernmental Panel on Climate Change, Al Gore's global warming statements and the Stern review. As the most populous nation...

The New Institutional Economics has established itself as widely accepted extension to the standard neoclassical paradigm. Here, institutions are defined as commonly known rules that structure recurring interaction situations and the corresponding sanctioning mechanism. For-mal institutions...