Since the seminal work of Adam Smith, markets have been considered an efficienttool for co-ordinating the behaviour of economic agents. The basic characteristicof a market economy is that the complex system of interaction amongindividuals is not centrally coordinated. Under the assumption of...

Since the seminal work of Adam Smith, markets have been considered an efficient tool for co-ordinating the behaviour of economic agents. The basic characteristic of a market economy is that the complex system of interaction among individuals is not centrally coordinated. Under the assumption of...

Agri-environmental schemes provide payments for farmers in return for environmental services. Their implementation induces transaction costs for administration and farmers. Although transaction costs became subject of research in recent years, little attention has been paid to activities which...

We will analyze a newly emerging conflict within the second pillar of the rural development policy of the EU: a conflict between those farmers, who want to participate in high nature value agriculture, and farmers, who feel negatively impacted by supporting nature provision. We see a link...