Measuring the Transaction Costs of Historical Shifts to Informal Drought Management Institutions in Italy
Coase shows how costly resources are (re)allocated via costly institutions, and that transaction costs must therefore be positive. However, Coase did not elaborate on transitions between institutions which incur positive transaction costs that are characterized by numerous institutional complementar...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2020-06-01
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| Series: | Water |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2073-4441/12/7/1866 |