Transaction cost measurement for evaluating environmental policies

Laura McCann, Bonnie Colby, K. William Easter, Alexander Kasterine, K. V. Kuperan

Research output: Contribution to journalArticlepeer-review

225 Scopus citations

Abstract

Policy choice and policy design need to take account of transaction costs in order to increase the efficiency and sustainability of policies. However, transaction costs must first be measured to be included in the evaluation of alternative environmental or natural resource policies. While a number of studies measure transaction costs, there has been no systematic treatment of the fundamental issues involved. This article examines the issues involved in transaction cost measurement and makes recommendations regarding a typology of costs as well as the measurement methodologies themselves. In particular, methods used for nonmarket valuation of environmental goods may have potential for the measurement of transaction costs.

Original languageEnglish (US)
Pages (from-to)527-542
Number of pages16
JournalEcological Economics
Volume52
Issue number4
DOIs
StatePublished - Mar 1 2005

Keywords

  • Environmental policy
  • Measurement methodologies
  • Transaction costs

ASJC Scopus subject areas

  • Environmental Science(all)
  • Economics and Econometrics

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