Elsevier Institutional Economics of Market-Based Climate Policy

Explore the complex relationship between economic theory and environmental regulation with this academic text from Elsevier. This volume examines the specific institutional barriers that prevent the successful implementation of market-based climate policies. By applying the principles of institutional economics, the book provides a deep look into political transaction costs and the concept of path dependence. Rather than simply discarding neoclassical models, this work integrates them where they are effective and introduces neo-institutionalist approaches where they are needed. This method allows for a balanced analysis that considers equity alongside efficiency. Readers will gain a better understanding of how both formal and informal climate structures evolve and the potential for lock-in effects within these systems. It is a necessary resource for those studying how institutional frameworks shape the future of environmental economics and policy implementation.