The new institutional economics and the assessment of animal disease control

Rushton, J and Leonard, D K (2008) The new institutional economics and the assessment of animal disease control. In: UNSPECIFIED UNSPECIFIED, pp. 144-148.

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Abstract

The conceptual framework of new institutional economics has been key to those who wish to take a less ideological and more analytical approach to the division of labour between private and government actors in the livestock sector. This chapter discusses important concepts from new institutional economics and its application in the assessment of animal disease control. The qualities of pure public goods and measures the government can do to correct the biases that can arise in decision making are outlined. The measures that the public can do to help reduce the transaction costs are also presented. A summary of animal health functions, appropriate delivery channels (public and private) and economic characteristics is provided.