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Abstract: A multidisciplinary team of researchers made efforts to influence the design and implementation of environmental policy in Australia. A focus of these efforts was the development of the Investment Framework for Environmental Resources (INFFER). In addition, the team undertook a range of communication activities, training, user support, and participation in committees and enquiries. Transaction costs were relevant to these efforts in a variety of ways. Environmental managers perceived INFFER to involve relatively high transaction costs. A balance was struck between the system having simplicity (and low transaction costs) and delivering environmental benefits. Transaction costs were factored into the planning and prioritisation processes developed. For example, public and private transaction costs are accounted for in the calculation of benefit:cost ratios and in the choice of policy mechanisms. There are diverse roles that transaction costs play in the processes of developing, implementing and influencing environmental policy programmes. A key observation is that appropriate strategic investment in transaction costs can improve decisions and increase net benefits from an environmental programme. A well-designed decision process can involve incurring transaction costs at one stage in order to save transaction costs at a later stage. [Copyright &y& Elsevier]

For some environmental assets in rural areas, the landholders who are having the biggest impact are people with small holdings and an emphasis on lifestyle rather than commercial gains from their land. This paper aims to better understand the motivations and likely responses to policy for lifestyle landholders in Australia, in order to assess which policy mechanisms, if any, are likely to be most efficiently used to influence their land management. Through face-to-face interviews, we find that lifestyle landholders have important differences from commercial farmers, including much smaller properties, a stronger interest in environmental outcomes, a lack of land-management skills and a lack of time for land-management activities. From the perspective of environmental policy programs, engaging with lifestyle landholders is likely to involve higher transaction costs, and there are likely to be higher learning and transition costs per unit area. A framework for selection of policy tools is modified to take account of these findings. It is concluded that the prospects for worthwhile public investments in land-use changes by lifestyle landholders are lower than for commercial landholders. [Copyright &y& Elsevier]

Abstract: This paper reviews the development of ecological economics in Australia and New Zealand since its beginnings in the late 1970s. A historical account is presented that focuses particularly on the activities of the Australia New Zealand Society for Ecological Economics and key ecological economics research activities. Achievements of ecological economics in Australia and New Zealand are assessed, using a range of quantitative and qualitative data. The main areas of expertise developed by Australian and New Zealand ecological economists were found to be: theoretical foundations and visions for ecological economics; biodiversity and resilience; input–output analysis; heterodox valuation approaches; analysis of economy–environment interactions; sustainability indicators; sustainable agriculture, fisheries and oceans; and energy/thermodynamics. Both countries are ranked at the top (or near the top) of the world rankings in terms of per capita ISEE membership and publication rates in Ecological Economics. A defining feature of ecological economics in Australia and New Zealand has also been its practical and problem-solving focus and the level of end-user engagement. The paper concludes by discussing the challenges that face the future development of ecological economics in Australia and New Zealand. [Copyright &y& Elsevier]