The Stricter the Law, the More Profitable to Break It

Abstract

This article examines the problem of oil spills from the perspective of institutional theory. It suggests a means of conflict resolution via a process of changing transactional costs, outlines a few approaches, and draws conclusions about their advantages, which lower transactional costs for subsoil users.

Keywords:

• institutional theory
• transaction costs
• subsoil use
• environment

Notes

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