The ordinal scale and polychotomous choice methods are two widely used techniques for estimating preference uncertainty in stated preference studies. This article presents the results of two experiments that apply these estimation techniques. The first experiment was designed to compare and...

Environmental policy instruments generate transaction costs to public and private parties. There is a growing literature reporting on the size of transaction costs produced by environmental policy instruments. This paper extends that literature through an analysis of the factors that influence...

This study employs a comparative analysis of the transaction costs of alternative policy instruments. The institutional approach to the allocation of resources is emerging to supplement traditional analyses of market and government failures. The causes of these failures are many, but often point...