Transaction costs of low-carbon technologies and policies : the diverging literature
Transaction costs are major challenge to moving forward toward low-carbon economic growth, as new technologies or policies tend to have higher transaction costs compared with those in the business as usual situation. However, neither a well-developed theoretical foundation nor a consensus interpretation is available for those transaction costs in the existing literature. The definitions and therefore the estimations of transaction costs vary across existing studies. The wide variations in the estimates could be attributed to several factors such as the very definitions and scope of transaction costs considered in the studies, the methodology for quantifying these costs, the type and size of low-carbon technologies, and complexities involved in the transactions. Nevertheless, the existing literature converges on addressing market failures, such as lack of information, in developing regulatory and institutional capacity to enhance private sector confidence in energy efficiency business as a key means to help reduce the transaction costs of low-carbon technologies.
|Date of creation:||01 Aug 2013|
|Contact details of provider:|| Postal: 1818 H Street, N.W., Washington, DC 20433|
Phone: (202) 477-1234
Web page: http://www.worldbank.org/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hart, Oliver & Moore, John, 1990.
"Property Rights and the Nature of the Firm,"
Journal of Political Economy,
University of Chicago Press, vol. 98(6), pages 1119-1158, December.
- Oliver Hart & John Moore, 1988. "Property Rights and the Nature of the Firm," Working papers 495, Massachusetts Institute of Technology (MIT), Department of Economics.
- Hart, Oliver D. & Moore, John, 1990. "Property Rights and the Nature of the Firm," Scholarly Articles 3448675, Harvard University Department of Economics.
- Dubin, Jeffrey A & McFadden, Daniel L, 1984. "An Econometric Analysis of Residential Electric Appliance Holdings and Consumption," Econometrica, Econometric Society, vol. 52(2), pages 345-362, March.
- Jūratė Jaraitė & Frank Convery & Corrado Di Maria, 2010. "Transaction costs for firms in the EU ETS: lessons from Ireland," Climate Policy, Taylor & Francis Journals, vol. 10(2), pages 190-215, March.
- McCann, Laura & Colby, Bonnie & Easter, K. William & Kasterine, Alexander & Kuperan, K.V., 2005. "Transaction cost measurement for evaluating environmental policies," Ecological Economics, Elsevier, vol. 52(4), pages 527-542, March.
- Oliver E. Williamson, 2010. "Transaction Cost Economics: The Natural Progression," American Economic Review, American Economic Association, vol. 100(3), pages 673-690, June.
- Williamson, Oliver E., 2009. "Transaction Cost Economics: The Natural Progression," Nobel Prize in Economics documents 2009-3, Nobel Prize Committee.
- Joskow, Paul L, 1991. "The Role of Transaction Cost Economics in Antitrust and Public Utility Regulatory Policies," Journal of Law, Economics and Organization, Oxford University Press, vol. 7(0), pages 53-83, Special I.
- Perez, Yannick & Ramos-Real, Francisco Javier, 2009. "The public promotion of wind energy in Spain from the transaction costs perspective 1986-2007," Renewable and Sustainable Energy Reviews, Elsevier, vol. 13(5), pages 1058-1066, June.
- Grossman, Sanford J & Hart, Oliver D, 1986. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 691-719, August.
- Oliver Hart & Sanford Grossman, 1985. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Working papers 372, Massachusetts Institute of Technology (MIT), Department of Economics.
- Grossman, Sanford J & Hart, Oliver, 1985. "The Cost and Benefits of Ownership: A Theory of Vertical and Lateral Integration," CEPR Discussion Papers 70, C.E.P.R. Discussion Papers.
- Grossman, Sanford J. & Hart, Oliver D., 1986. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Scholarly Articles 3450060, Harvard University Department of Economics.
- Ronald J. Sutherland, 1991. "Market Barriers to Energy-Efficiency Investments," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 15-34.
- Krey, Matthias, 2005. "Transaction costs of unilateral CDM projects in India-results from an empirical survey," Energy Policy, Elsevier, vol. 33(18), pages 2385-2397, December.
- Sarkar, Ashok & Singh, Jas, 2010. "Financing energy efficiency in developing countries--lessons learned and remaining challenges," Energy Policy, Elsevier, vol. 38(10), pages 5560-5571, October.
- Jean Charles Hourcade & Mark Jaccard & Chris Bataille & Frédéric Ghersi, 2006. "Hybrid Modeling: New Answers to Old Challenges," Post-Print halshs-00471234, HAL.
- Pamphile Kokou Degla, 2012. "Transaction Costs in the Trading System of Cashew Nuts in the North of Benin: A Field Study," American Journal of Economics and Sociology, Wiley Blackwell, vol. 71(2), pages 277-297, 04.
- Stavins Robert N., 1995. "Transaction Costs and Tradeable Permits," Journal of Environmental Economics and Management, Elsevier, vol. 29(2), pages 133-148, September.
- Bergek, Anna & Jacobsson, Staffan, 2010. "Are tradable green certificates a cost-efficient policy driving technical change or a rent-generating machine? Lessons from Sweden 2003-2008," Energy Policy, Elsevier, vol. 38(3), pages 1255-1271, March.
- Lee J. Alston & Krister Andersson, 2011. "Reducing Greenhouse Gas Emissions by Forest Protection: The Transaction Costs of REDD," NBER Working Papers 16756, National Bureau of Economic Research, Inc.
- Finon, Dominique & Perez, Yannick, 2007. "The social efficiency of instruments of promotion of renewable energies: A transaction-cost perspective," Ecological Economics, Elsevier, vol. 62(1), pages 77-92, April.
- D. Finon & Y. Perez, 2007. "The social efficiency of instruments of promotion of renewable energies: A transaction-cost perspective," Post-Print hal-00716667, HAL.
- Pannell, David J. & Roberts, Anna M. & Park, Geoff & Alexander, Jennifer, 2013. "Improving environmental decisions: A transaction-costs story," Ecological Economics, Elsevier, vol. 88(C), pages 244-252.
- Pannell, David J. & Roberts, Anna M. & Park, Geoff & Alexander, Jennifer, 2012. "Improving environmental decisions: a transaction-costs story," Working Papers 125851, University of Western Australia, School of Agricultural and Resource Economics.
- Ofei-Mensah, Albert & Bennett, Jeff, 2013. "Transaction costs of alternative greenhouse gas policies in the Australian transport energy sector," Ecological Economics, Elsevier, vol. 88(C), pages 214-221.
- Escobal, Javier A. & Cavero, Denice, 2012. "Transaction Costs, Institutional Arrangements and Inequality Outcomes: Potato Marketing by Small Producers in Rural Peru," World Development, Elsevier, vol. 40(2), pages 329-341.
- Sanstad, Alan H. & Howarth, Richard B., 1994. "`Normal' markets, market imperfections and energy efficiency," Energy Policy, Elsevier, vol. 22(10), pages 811-818, October.
- Bengt Holmstrom & John Roberts, 1998. "The Boundaries of the Firm Revisited," Journal of Economic Perspectives, American Economic Association, vol. 12(4), pages 73-94, Fall.
- Michaelowa, Axel & Jotzo, Frank, 2005. "Transaction costs, institutional rigidities and the size of the clean development mechanism," Energy Policy, Elsevier, vol. 33(4), pages 511-523, March.
- Jerry A. Hausman, 1979. "Individual Discount Rates and the Purchase and Utilization of Energy-Using Durables," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 33-54, Spring.
- Biswajit Ray & Rabindra Bhattacharya, 2011. "Transaction Costs, Collective Action and Survival of Heterogeneous Co-management Institutions: Case Study of Forest Management Organisations in West Bengal, India," Journal of Development Studies, Taylor & Francis Journals, vol. 47(2), pages 253-273.
- Ger Klaassen & Andries Nentjes, 1997. "Sulfur Trading Under the 1990 CAAA in the US: An Assessment of First Experiences," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 153(2), pages 384-384, June.
- Joachim Schleich & Regina Betz, 2004. "EU emissions trading and transaction costs for small and medium sized companies," Intereconomics: Review of European Economic Policy, Springer;German National Library of Economics;Centre for European Policy Studies (CEPS), vol. 39(3), pages 121-123, May.
- W. Fichtner & S. Graehl & O. Rentz, 2003. "The impact of private investor's transaction costs on the cost effectiveness of project-based Kyoto mechanisms," Climate Policy, Taylor & Francis Journals, vol. 3(3), pages 249-259, September.
- Montero, Juan-Pablo, 1998. "Marketable pollution permits with uncertainty and transaction costs," Resource and Energy Economics, Elsevier, vol. 20(1), pages 27-50, March.
- Coggan, Anthea & Whitten, Stuart M. & Bennett, Jeff, 2010. "Influences of transaction costs in environmental policy," Ecological Economics, Elsevier, vol. 69(9), pages 1777-1784, July.
- Mundaca, Luis, 2007. "Transaction costs of Tradable White Certificate schemes: The Energy Efficiency Commitment as case study," Energy Policy, Elsevier, vol. 35(8), pages 4340-4354, August.
- Getachew A. Woldie & E.A. Nuppenau, 2011. "A contribution to transaction costs: evidence from banana markets in Ethiopia," Agribusiness, John Wiley & Sons, Ltd., vol. 27(4), pages 493-508, 09.
- Dermot Gately, 1980. "Individual Discount Rates and the Purchase and Utilization of Energy-Using Durables: Comment," Bell Journal of Economics, The RAND Corporation, vol. 11(1), pages 373-374, Spring.
- Cacho, Oscar J. & Lipper, Leslie & Moss, Jonathan, 2013. "Transaction costs of carbon offset projects: A comparative study," Ecological Economics, Elsevier, vol. 88(C), pages 232-243.
- Eggertsson,Thrainn, 1990. "Economic Behavior and Institutions," Cambridge Books, Cambridge University Press, number 9780521348911, October.
- Richard B. Howarth & Alan H. Sanstad, 1995. "Discount Rates And Energy Efficiency," Contemporary Economic Policy, Western Economic Association International, vol. 13(3), pages 101-109, 07.
- Langniss, Ole & Wiser, Ryan, 2003. "The renewables portfolio standard in Texas: an early assessment," Energy Policy, Elsevier, vol. 31(6), pages 527-535, May.
- Sioshansi, Fereidoon P., 1991. "The myths and facts of energy efficiency : Survey of implementation issues," Energy Policy, Elsevier, vol. 19(3), pages 231-243, April.
- Geraldine Ducos & Pierre Dupraz & Francois Bonnieux, 2009. "Agri-environment contract adoption under fixed and variable compliance costs," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 52(5), pages 669-687. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:wbk:wbrwps:6565. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Roula I. Yazigi)
If references are entirely missing, you can add them using this form.