Intergenerational Equity in Natural Resource Extraction with Transaction Cost Economics and Property Rights Theory

Key Points

• The aim is to explore how intergenerational equity is influenced by transaction cost economics and property rights theory in natural resource extraction.
• Examined the relationship between institutional design and risk distribution through theoretical frameworks.
• Utilized transaction cost economics and property rights theory to analyze interactions in resource governance.
• Demonstrated that institutional design significantly redistributes risks across generations.
• Reframed sustainability as primarily a governance issue rather than solely an environmental one.

Abstract