Description
The text discusses how institutions shape the behavior of individuals and firms, and how this can lead to the desired outcomes in public policy. It argues that public policy should be examined from an institutional perspective in order to understand the motivations of those involved and the effects of their actions.
This important text develops an institutional response to the core issues raised in public policy making and develops a distinct understanding of the role of institutions, not least in the study of environmental problems. It questions: how are conflicting interests shaped and taken into account in policy-making? How should they be accounted for? What motivates the behavior of firms and individuals, and how is it possible to change these motivations to produce the favored common outcomes? The author addresses these questions by integrating elements from classical institutional economics, neoclassical economics, sociology and ecological economics. He argues that public policy in general, and environmental policy in particular, are best examined from an institutional perspective. In this way the author presents a distinct and consistent alternative to standard neoclassical economics for students and scholars who are interested in an institutional understanding of environmental policy-making. The book is written in a clear and accessible style with boxes and figures to help explain the issues and, as such, would be an ideal alternative or supplement to the standard environmental economics texts.
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