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Transaction costs in agri-environmental schemes: the principal-agent-point of view

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  • Weber, Anja Michaela
  • Nuppenau, Ernst-August
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    Abstract

    Agri-environmental schemes provide payments for farmers in return for environmental services. Their implementation induces transaction costs for administration and farmers. Although transaction costs became subject of research in recent years, little attention has been paid to activities which create them. This paper uses insights from Principal-Agent-Theory to show, how information gaps between contracting partners result in tradeoffs inducing activities conducted at implementation level. A Grassland Extensification Scheme, provided in Hesse, Germany, serves as a case-study. The paper shows that attempts and incentives to overcome informational gaps are different for administration and farmer. Further, attempts to reduce transaction costs of own activities may have spillover effects on the transaction costs of the contracting partner and along the transaction process. Those effects should be taken into account in discussions on scheme evaluation and development.

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    File URL: http://purl.umn.edu/94919
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    Bibliographic Info

    Paper provided by European Association of Agricultural Economists in its series 118th Seminar, August 25-27, 2010, Ljubljana, Slovenia with number 94919.

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    Date of creation: Aug 2010
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    Handle: RePEc:ags:eaa118:94919

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    Related research

    Keywords: agri-environmental schemes; transaction costs; principal-agent-theory; hesse; Germany; Community/Rural/Urban Development; Q18; Q23;

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    1. Per Kristian Rørstad & Arild Vatn & Valborg Kvakkestad, 2007. "Why do transaction costs of agricultural policies vary?," Agricultural Economics, International Association of Agricultural Economists, vol. 36(1), pages 1-11, 01.
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