The ‘make or buy’ decision in private environmental transactions
AbstractA theoretical framework combining the two branches of TCE, i.e., the governance branch (Williamson, 2005) and the measurement branch (Barzel, 2005) may explain the choice of the governance structure for private environmental transactions. Four case studies, i.e., the market for pure air in polluted cities, the contractual arrangement between La Esperanza and the Monteverde Conservation League, the case of the French mineral water bottler Vittel and the case of land ownership by land trusts are briefly developed in order to support the theoretical framework. Special attention is devoted to the presence (or not) of a 3-D (defined, defended and divestible) property rights system and its influence on the way environmental property rights are likely (or not) to be re-arranged. Lessons and policy implications are drawn in order to foster research on these challenging issues.
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Bibliographic InfoArticle provided by Springer in its journal European Journal of Law and Economics.
Volume (Year): 27 (2009)
Issue (Month): 1 (February)
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Web page: http://www.springerlink.com/link.asp?id=100264
Property rights; Environmental transactions; Measurement; Transaction-cost economics; D23; K32; Q58;
Other versions of this item:
- Douadia Bougherara & Gilles Grolleau & Naoufel Mzoughi, 2009. "The 'Make or Buy' Decision in Private Environmental Transactions," Working Papers 25908, Institut National de la Recherche Agronomique, France.
- D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
- K32 - Law and Economics - - Other Substantive Areas of Law - - - Environmental, Health, and Safety Law
- Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
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