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Contracting for Environmental Property Rights: The Case of Vittel

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  • Depres, Christophe
  • Grolleau, Gilles
  • Mzoughi, Naoufel

Abstract

Based on an authentic case of contracting for environmental property rights, our paper shows several implications of applying the Coase’s propositions. The case study adds empirical content to basic transaction costs concepts by analyzing the design and implementation of a contractual arrangement between a pollutee –a bottler of mineral water Vittel– and several polluting farmers. We analyze the bargaining between land and water rights owners and the bottler Vittel to determine how transaction cost issues (valuation disputes, bi-lateral monopoly conditions, and third-party effects) were overcome and how they succeeded in contracting for environmental property rights. We provide several comparisons of the Vittel case with other similar cases, leading to generalizations and testable propositions for environmental rights negotiations.

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Bibliographic Info

Paper provided by European Association of Agricultural Economists in its series 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark with number 24729.

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Date of creation: 2005
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Handle: RePEc:ags:eaae05:24729

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Keywords: case study; contracting; environmental property rights; environmental-related transactions; private arrangement; Vittel; Environmental Economics and Policy; H23; K23; Q15; Q25;

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  1. Coase, R H, 1974. "The Lighthouse in Economics," Journal of Law and Economics, University of Chicago Press, vol. 17(2), pages 357-76, October.
  2. Demsetz, Harold, 1969. "Information and Efficiency: Another Viewpoint," Journal of Law and Economics, University of Chicago Press, vol. 12(1), pages 1-22, April.
  3. Van Zandt, David E, 1993. "The Lessons of the Lighthouse: "Government" or "Private" Provision of Goods," The Journal of Legal Studies, University of Chicago Press, vol. 22(1), pages 47-72, January.
  4. Glaeser, Edward Ludwig & Laibson, David I. & Scheinkman, Jose A. & Soutter, Christine L., 2000. "Measuring Trust," Scholarly Articles 4481497, Harvard University Department of Economics.
  5. Dahlman, Carl J, 1979. "The Problem of Externality," Journal of Law and Economics, University of Chicago Press, vol. 22(1), pages 141-62, April.
  6. Jung, Chulho & Krutilla, Kerry & Kip Viscusi, W. & Boyd, Roy, 1995. "The coase theorem in rent-seeking society," International Review of Law and Economics, Elsevier, vol. 15(3), pages 259-268, September.
  7. Gary D. Libecap, 2005. "Chinatown: Transaction Costs in Water Rights Exchanges. The Owens Valley Transfer to Los Angeles," ICER Working Papers 16-2005, ICER - International Centre for Economic Research.
  8. Dulbecco, Philippe, 2003. " The Dynamics of the Institutional Change and the Market Economy: Understanding Contemporaneous Market Development Processes," The Review of Austrian Economics, Springer, vol. 16(2-3), pages 231-51, September.
  9. Gafsi, M. & Brossier, J., 1997. "Farm management and protection of natural resources: Analysis of adaptation process and dependence relationships," Agricultural Systems, Elsevier, vol. 55(1), pages 71-97, September.
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Cited by:
  1. 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.
  2. François Facchini, 2008. "Droit de propriété et gestion des conflits agriculture - environnement," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00732380, HAL.
  3. Joël Houdet & Michel Trommetter & Jacques Weber, 2009. "Changing business perceptions regarding biodiversity: from impact mitigation towards new strategies and practices," Working Papers hal-00412875, HAL.
  4. 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.
    • Glaeser, Edward Ludwig & Laibson, David I. & Scheinkman, Jose A. & Soutter, Christine L., 2000. "Measuring Trust," Scholarly Articles 4481497, Harvard University Department of Economics.
  5. Ornella Boutry, 2010. "A New Institutional Approach of Resource Use Conflicts: The Case of Poitou-Charentes," Post-Print hal-00655829, HAL.
  6. Schleyer, Christian & Theesfeld, Insa & Hagedorn, Konrad & Aznar, Olivier & Callois, Jean-Marc & Verburg, Rene & Yelkouni, Martin & Olsson, Johanna Alkan, 2007. "Approach towards an operational tool to apply institutional analysis for the assessment of policy feasibility within SEAMLESS-IF," Reports 9295, SEAMLESS: System for Environmental and Agricultural Modelling, Linking European Science and Society.
  7. Joël Houdet & Charlotte Pavageau & Michel Trommetter & Jacques Weber, 2009. "Accounting for changes in biodiversity and ecosystem services from a business perspective," Working Papers hal-00434450, HAL.

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