body bg


Transaction costs, collective action and adaptation in managing complex social–ecological systems

  • Year: 2013
  • Author: Marshall, G.
  • Journal Name: Ecological Economics
  • Journal Number: Vol.88
  • Country: Australia

With the escalating uncertainties and surprises faced in responding to environmental and natural resource challenges has come growing recognition of the need to manage such issues as social–ecological systems and value the capacities that enable adaptation to these changes. Adaptations in environmental management often involve complex, including wicked, problems of collective action. Institutions introduced to reduce the transaction costs of solving these problems do not come for free.

A cost effectiveness framework designed to provide a comprehensive and logical structure for economic evaluation of path dependent institutional choices in this context, and a procedure for boundedly rational empirical application of the framework, are proposed and illustrated in this article — including for the choice between water buy-back and infrastructure upgrade programmes for accumulating the ‘environmental water’ needed to sustain the ecosystems of Australia's Murray–Darling Basin. Also outlined is a research strategy designed to help identify the heuristics needed for application of this procedure.

Related Items

Living in the Regions 2013: A survey of attitudes and perceptions about living in regional Western Australia.

The purpose of the Living in the Regions 2013 survey was to ascertain what attracts people to the...

RDA Gold Coast Regional Profile 2013

The Gold Coast Regional Plan 2013 attempts to address the challenges and opportunities facing the...

Victorian Government Aboriginal affairs report 2013

The content of the 2013 Report continues the emphasis on evaluation and reporting against the...

Share this with your friends

Footer Logo

Contact Us

Level 2, 53 Blackall Street
Barton ACT 2600
Telephone: 02 6260 3733
or email us