A szövetkezés létjogosultságát – a változatosabb intézményi struktúra előnyei mellett – számos gazdasági ok, például koordinációs-integrációs előnyök (hosszú távú értékesítési csatorna biztosítása, tranzakciós költségek és kockázat csökkentése, valamint a...

This paper presents a general equilibrium analysis of economic efficiency under externalities, transaction costs and non-convexity. It applies to market exchange as well as contractual arrangements. We show that the Coase theorem continues to hold under general conditions: the efficient...

After briefly reviewing recent economic theories about the economic welfare consequences of public provision of private commodities, this article examines the cost efficient supply of publicly provided commodities. In the light of the presence of transaction costs and bounded rationality, and...

Relationships between bounded rationality and transaction cost theories are discussed and their connections with stochastic theories of industrial evolution are considered. While these theories have their limitations, they are useful but have been ignored in many public policy prescriptions,...

After briefly reviewing recent economic theories about the economic welfare consequences of public provision of private commodities, this article examines the cost efficient supply of publicly provided commodities. In the light of the presence of transaction costs and bounded rationality, and...

This paper examines changes in the allocation of public funds between production related public goods (PRPGs) and labour augmenting public goods (LAPGs) once elected village leaders replaced an appointment system. We derive a two-period theoretical model in which the interest of appointed...

Institutional design focuses on the task of providing accountability and effective monitoring of decision-making by bodies vested with the coercive powers of the state in a context where information is inherently limited, costly to acquire and asymmetrically distributed. This paper focuses on...

This article outlines the efforts of a small NGO, the Mareeba Wetland Foundation, to conserve nature and conduct tourism at its Mareeba Tropical Savanna Wetland Reserve in northern Queensland. It provides background about the establishment of the reserve and its nature and draws on the results...

It is argued that while considerable development of animal health economics has occurred in recent decades, it has not yet achieved its potential coverage. It has been mostly applied to livestock, particularly livestock used for commerce, and its application to a range of other animals has been...

Income inequality has increased sharply in higher income countries. Theories attributing this to bifurcation of labor markets are examined. Some theorists attribute this bifurcation primarily to technical change with influence from globalization. Others take an opposite viewpoint. A contrasting...