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Externalities and environmental-related transactions: the two faces of the same coin?
[L'externalité et la transaction environnementale : les deux faces de la même pièce ?]

Author

Listed:
  • Gilles Grolleau

    (LAMETA - Laboratoire Montpelliérain d'Économie Théorique et Appliquée - UM1 - Université Montpellier 1 - UPVM - Université Paul-Valéry - Montpellier 3 - INRA - Institut National de la Recherche Agronomique - Montpellier SupAgro - Centre international d'études supérieures en sciences agronomiques - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier, Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier)

  • Salima Salhi

    (Centre de Recherche en Economie Appliquée pour le Développement - Partenaires INRAE)

Abstract

The externality concept has generated fruitful advances in environmental economics but can be usefully completed by the environmental-related transaction. This innovative perspective emphasizes the causes explaining the level of transaction costs and the strategies used to make this level compatible with Coasean solutions. We characterize environmental-related transactions. We explore several reasons susceptible to explain why the Coase 1960 article has not benefited from an operationalization /à la /Williamson and show that extending transaction costs economics to environmental related transactions constitutes a promising challenge, especially to guide the choice of regulatory instruments.

Suggested Citation

  • Gilles Grolleau & Salima Salhi, 2009. "Externalities and environmental-related transactions: the two faces of the same coin? [L'externalité et la transaction environnementale : les deux faces de la même pièce ?]," Post-Print hal-02654521, HAL.
    • Handle: RePEc:hal:journl:hal-02654521
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    Keywords

    THÉORIE DES COUT DE TRANSACTION;

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