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...

Based on a case of contracting for environmental property rights, we explore several implications of applying Coase's insights. The case study adds empirical content to transaction costs concepts by analyzing the design and implementation of a contractual arrangement between a pollutee - a...