Contracting for Environmental Property Rights: The Case of Vittel
AbstractBased on a real case of contracting for environmental property rights, we explore several implications of Coase's insights. The case study adds empirical content to basic transaction costs concepts by analysing the design and implementation of a contractual arrangement between a pollutee-a bottler of mineral water-and several polluting farmers. We analyse the bargaining between the two parties to determine how transaction cost issues (valuation disputes, bilateral monopoly conditions and third-party effects) were overcome and how they succeeded in contracting for environmental property rights. We compare the Vittel case with other similar cases to draw lessons for environmental rights negotiations. Copyright (c) The London School of Economics and Political Science 2007.
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Bibliographic InfoArticle provided by London School of Economics and Political Science in its journal Economica.
Volume (Year): 75 (2008)
Issue (Month): 299 (08)
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- Depres, Christophe & Grolleau, Gilles & Mzoughi, Naoufel, 2005. "Contracting for Environmental Property Rights: The Case of Vittel," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24729, European Association of Agricultural Economists.
- H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
- K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
- Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
- Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
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