Most markets have evolved as buyers and sellers constantly search for ways to create value, however this has not occurred naturally in all areas of the economy – markets are missing for some goods, including the environment. In such cases, transaction costs linked to property rights, asymmetric...

This paper presents an analysis of agricultural contracts using a transaction costs approach. We contend that in a context of modern agriculture, with well defined property rights, agricultural contracts must balance costs and benefits, aligning tenant and landlord incentives towards a similar...

"Fisheries co-management as an alternative to centralised command and control fisheries management is often suggested as a solution to the problems of fisheries resource use conflicts and overexploitation. Various researchers have talked of the importance of studying the role of transaction...

Published as Feeny, David, "Sub-Optimality and Transaction Costs on the Commons," in Edna Tusak Loehman and D. Marc Kilgour (eds.), Designing Institutions for Environmental and Resource Management (Cheltenham, Edward Elgar Publishing, Ltd., 1998), 124-141. "Much of the literature on the...

"Much of nonprofit research over the past twenty years focuses on how a nonprofit enterprise is different than a for-profit or public enterprise. Influential early theorists relied on the legal constraint nonprofits have in redistributing profit to explain nonprofit production of certain types...

"We are concerned here with the creation of non-market institutions for reducing the cost of risk in poor agrarian societies that operate at low levels of technology without the benefits of insurance, credit and other intertemporal markets. 1 Institutions, the formal and informal rules that...

"One of the missing links in common property research has been the interaction between common property resource users and the market. The present research fills that gap with a study of Mexico's agrarian communities which coordinate timber production within their commonly-owned forest land. The...

This paper is a first attempt to empirically measure transaction costs – a composite of administrativecosts and trading costs – of firms in the European Union's CO2 Emissions Trading Scheme (EU ETS)during its trial phase (2005-2007). This analysis provides some evidence that transaction...

Public e-procurement has enabled innovation in government and transformed technological platforms and the way governments procure goods and services and engage with suppliers (Hardy and Williams, 2007; Lee, Tan and Trimi, 2005; Moe, 2004). Leveraging information technology to achieve better information,...

Increasingly, state and local governments are promoting intergovernmental coordination, cooperation, and/or outright consolidation (3Cs) based on the perceived economies of scale advantages of such joint actions. However, the growing public finance and political science literature on...