Choosing a mechanism to encourage landholders to change their land management in order to deliver environmental outcomes is a complicated process. Careful instrument selection may count for little if uptake and adoption are insufficient to meet performance targets. Similarly, investors may...

Water markets and associated allocation policy reforms have struggled to achieve their intended goals in many water-stressed rivers, in part due to the institutional friction imposed by transition and transaction costs. This paper elaborates a transaction costs analysis framework to examine the...

Rural residential development could have a positive or negative effect on the supply of ecosystem services. In most cases, the effect tends to be negative. One way of managing the impact is through a market based instrument. In this paper we present a development offset MBI as a way of cost...

Regulatory regimes intended to enforce changes to land use or management impose costs on landholders and governments. Landholder costs comprise changes to capital equipment, changes to crop or enterprise management including direct compliance costs, opportunity costs of lost production, and...

There is a growing literature reporting the extent of transaction costs for environmental policies. However understanding why transaction costs occur and why they are small or large is also important for efficient policy selection and evaluation. Following an analysis of the organisational...