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The ‘make or buy’ decision in private environmental transactions

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  • Douadia Bougherara
  • Gilles Grolleau

    ()

  • Naoufel Mzoughi

Abstract

A 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.

(This abstract was borrowed from another version of this item.)

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File URL: http://hdl.handle.net/10.1007/s10657-008-9080-8
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Bibliographic Info

Article provided by Springer in its journal European Journal of Law and Economics.

Volume (Year): 27 (2009)
Issue (Month): 1 (February)
Pages: 79-99

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Handle: RePEc:kap:ejlwec:v:27:y:2009:i:1:p:79-99

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Web page: http://www.springerlink.com/link.asp?id=100264

Related research

Keywords: Property rights; Environmental transactions; Measurement; Transaction-cost economics; D23; K32; Q58;

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References

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Cited by:
  1. McCann, Laura, 2013. "Transaction costs and environmental policy design," Ecological Economics, Elsevier, vol. 88(C), pages 253-262.
  2. Edward L. Glaeser & David I. Laibson & José A. Scheinkman & Christine L. Soutter, 2000. "Measuring Trust," The Quarterly Journal of Economics, MIT Press, vol. 115(3), pages 811-846, August.
    • Scheinkman, Jose A. & Soutter, Christine L. & Glaeser, Edward Ludwig & Laibson, David I., 2000. "Measuring Trust," Scholarly Articles 4481497, Harvard University Department of Economics.

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