The Institutional Economics of Collective Waste Recovery Systems: an empirical investigation
Shteryo Nozharov
TL;DR
This paper develops a new model for measuring social costs in collective waste recovery systems using New Institutional Economics, highlighting institutional failures in Europe's circular economy efforts.
Contribution
It introduces an innovative model for social costs measurement and extends the theory on transaction and social costs in waste recovery systems.
Findings
New model for social costs measurement developed
Identifies institutional failures in European circular economy
Extends theory on transaction and social costs
Abstract
The main purpose of the study is to develop the model for transaction costs measurement in the Collective Waste Recovery Systems. The methodology of New Institutional Economics is used in the research. The impact of the study is related both to the enlargement of the limits of the theory about the interaction between transaction costs and social costs and to the identification of institutional failures of the European concept for circular economy. A new model for social costs measurement is developed. Keywords: circular economy, transaction costs, extended producer responsibility JEL: A13, C51, D23, L22, Q53
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Taxonomy
TopicsSustainable Industrial Ecology