Sustainability: A View from the Economics of Transaction Costs and Measurement Costs Theory

Abstract

The objective of this paper was to understand how sustainability can be analyzed and explained from what is studied by the economics of transaction costs and by the theory of measurement costs. Therefore, a bibliographic, exploratory and descriptive research was carried out. The results were able to demonstrate that sustainability and its own theory are continuously abstract for understanding within institutions, being the same for when applying the theory of transaction costs. Property rights are related to natural components and their governance structure focused on environmental relations. The development of new economies and the theory of measurement costs seek to give measured value to the attributes of transactions related to sustainability. This analysis could eliminate the limited rationality of the agents, consequently possible opportunistic behaviors and develop means of protecting the environment.

Keywords

• desenvolvimento sustentável
• custos de transação
• custos de mensuração