Transaction costs in environmental purchasing: analysis through two case studies

Legal Analysis of bank in the Iranian commercial market based on the theory of transaction costs

Understanding the necessity of establishing a bank in Iran requires a correct realizing of the mechanism of the money market in an era in which banks had no place or position. At that time distrusting on the borrower credits, lack of reliable information about the number and place of lenders, rising interest rates and the prevalence of high- interest borrowing were some of the costs that transa...

Bayesian Environmental Policy Decisions: Two Case Studies

Statistical decision theory can be a valuable tool for policy-making decisions. In particular, environmental problems often benefit from the application of Bayesian and decision-theoretic techniques that address the uncertain nature of problems in the environmental and ecological sciences. This paper discusses aspects of implementing statistical decision-making tools in situations where uncerta...

The Political Transaction Costs and Uncertainties of Establishing Environmental Rights

Transaction Costs of Environmental Policies and Returns to Scale: The Case of Comprehensive Nutrient Management Plans

Environmental policies are considered to be more onerous for small businesses than for large ones due to increasing returns to scale of abatement technologies as well as transaction costs. Comprehensive nutrient management plans (CNMPs) are being promoted to reduce excess nutrient applications on livestock farms in order to improve water quality. Development of CNMPs has been shown to exhibit i...

Testing Affine Term Structure Models in case of Transaction Costs

We empirically analyze the impact of transaction costs on the performance of essentially affine interest rate models. We test the implied Euler restrictions and calculate the specification error bound of Hansen and Jagannathan to measure model misspecification. Using both short-maturity and long-maturity bond return data we find, under the assumption of frictionless markets, strong evidence of ...