@article{Marshall:152166,
      recid = {152166},
      author = {Marshall, Graham R.},
      title = {TRANSACTION COSTS, COLLECTIVE ACTION AND ADAPTATION IN  MANAGING SOCIAL-ECOLOGICAL SYSTEMS},
      address = {2013-02},
      number = {424-2016-27095},
      pages = {25},
      year = {2013},
      abstract = {Adaptations in environmental management often involve  complex problems of collective action.
Institutions  introduced to reduce the transaction costs of solving these  problems often come at
considerable cost. An Institutional  Cost Effectiveness Analysis Framework (ICEAF) developed  to
provide a comprehensive and logical structure for  economic evaluation of path dependent
institutional choices  in this domain, and a procedure for boundedly rational  application of the
framework, are proposed and illustrated  in this article – including for the choice between water  buy-
back and infrastructure subsidy programs for  recovering the ‘environmental water’ required to
sustain  the ecosystems of the Murray-Darling Basin. A research  strategy developed to strengthen
the knowledge base for  applying this procedure is also proposed.},
      url = {http://ageconsearch.umn.edu/record/152166},
      doi = {https://doi.org/10.22004/ag.econ.152166},
}