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Conservation Research and Policy with Non-Trivial Transaction Costs and Incomplete Contracting

Author

Listed:
  • Scott R. Steele

    (Department of Economics, National University of Ireland, Galway)

Abstract

Achieving conservation in the agricultural sector is difficult. The primary complicating factor is the large number of public-good environmental services that can potentially be provided by large numbers of individuals working the land under diverse economic and ecological circumstances. The complexity of the problem implies that additional consideration be given to transaction cost economics and the theory of incomplete contracting. The implications of incomplete contracting and transaction costs theory on the development, implementation, and evaluation of conservation policies are considered. Organizational analysis of the agricultural conservation problem yields three propositions and suggests unique research priorities.

Suggested Citation

  • Scott R. Steele, 2008. "Conservation Research and Policy with Non-Trivial Transaction Costs and Incomplete Contracting," Working Papers 0135, National University of Ireland Galway, Department of Economics, revised 2008.
    • Handle: RePEc:nig:wpaper:0135
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    File URL: http://www.economics.nuig.ie/resrch/paper.php?pid=142
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    File URL: http://www.economics.nuig.ie/resrch/paper.php?pid=142
    File Function: Revised version, 2008
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    More about this item

    Keywords

    Conservation; agriculture; transaction costs;
    All these keywords.

    JEL classification:

    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy; Animal Welfare Policy

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