Policy related transaction costs (TCs) is an important issue when evaluating different policy options. However, TCs are often not taken into account in policy evaluations, but may be as important for efficiency as the direct production costs. Different policies may result in different TCs, and the main aim of this article is to explore possible reasons for these differences. We compare the level of TCs for 12 different agricultural policy measures in Norway, and we analyze the causes of the differences along three different dimensions: asset specificity, frequency, and point of policy application. At the national level we find that all three dimensions are of importance when explaining the differences, while variation in TCs incurred by farmers are mainly due to differences in point of policy application and asset specificity. Data show that direct price support has the lowest TCs, while more direct payments for environmental amenities has the highest. Copyright 2007 International Association of Agricultural Economists.

Recently, the European Commission has adopted a Circular Economy package. In addition, climate change is regarded as a major global challenge, and the de-carbonization of the energy sector requires a massive transformation that involves an increase of renewable shares in the energy mix and the incorporation of carbon capture and storage (CCS) processes. Given all this strong new momentum, what will the Norwegian waste-to-energy (WtE) look like in a decade? What threats and opportunities are foreseen? In an attempt to answer these questions, this study combines process-based life-cycle assessment with analysis of the overall energy and material balances, mathematical optimization and cost assessment in four scenarios: (1) the current situation of the Norwegian WtE sector, (2) the implications of the circular economy, (3) the addition of CCS on the current WtE system and (4) a landfill scenario. Except for climate change, the CCS scenario performs worse than the WtE scenario. The energy recovering scenarios perform better than the recycling scenario for (1) freshwater eutrophication and human toxicity potentials due to secondary waste streams and (2) ozone depletion potential due to the additional fossil fuel used in the recycling processes. The inclusion of the near-term climate forcers decreases the climate change impacts by 1% to 13% due to a net cooling mainly induced by NOx. Circular economy may actually give the WtE system the opportunity to strengthen and expand its role towards new or little developed value chains such as secondary raw materials production and valorization of new waste streams occurring in material recycling. Keywords 1. Waste-to-Energy (WtE) 2. Life-cycle assessment (LCA) 3. Carbon capture and storage (CCS) 4. Circular economy 5. Climate change 6. Near-term climate forcers

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Life cycle assessment (LCA) has become a common methodology to analyze environmental impacts of forestry systems. Although LCA has been widely applied to forestry since the 90s, the LCAs are still often based on generic Life Cycle Inventory (LCI). With the purpose of improving LCA practices in the forestry sector, we developed a European Life Cycle Inventory of Forestry Operations (EFO-LCI) and analyzed the available information to check if within the European forestry sector national differences really exist. We classified the European forests on the basis of "Forest Units" (combinations of tree species and silvicultural practices). For each Forest Unit, we constructed the LCI of their forest management practices on the basis of a questionnaire filled out by national silvicultural experts. We analyzed the data reported to evaluate how they vary over Europe and how they affect LCA results and made freely available the inventory data collected for future use. The study shows important variability in rotation length, type of regeneration, amount and assortments of wood products harvested, and machinery used due to the differences in management practices. The existing variability on these activities sensibly affect LCA results of forestry practices and raw wood production. Although it is practically unfeasible to collect site-specific data for all the LCAs involving forest-based products, the use of less generic LCI data of forestry practice is desirable to improve the reliability of the studies. With the release of EFO-LCI we made a step toward the construction of regionalized LCI for the European forestry sector.