Transaction Costs and Agricultural Nonpoint-Source Water Pollution Control Policies

Mechanism design theory is used to develop the properties of optimal pollution control incentive schemes in the presence of adverse selection, moral hazard, and transaction costs. The model presented here shows (a) with no deadweight costs (transaction costs) , first-best allocations are always poss...

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Detalhes bibliográficos
Main Authors: Rodney B.W. Smith, Theodore D. Tomasi
Formato: Artigo
Idioma:Inglês
Publicado em: Western Agricultural Economics Association 1995-12-01
Colecção:Journal of Agricultural and Resource Economics
Assuntos:
asymmetric information
mechanism design
transaction costs
Acesso em linha:https://ageconsearch.umn.edu/record/30768
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