Aikaterini Argyrou, Nicolas Chevrollier, Jeroen Veldman
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Legal institutionalism and the role of law in market transformation during sustainability transitions: exploring alternative ontological perspectives
Grand societal challenges ask that we speed up transformations in markets towards sustainability. Speeding up market transformations in sustainability transitions is determined in part by the way in which law and legal institutions enable or obstruct these transformations. We investigate the role of law and organizations in relation to market transformation in sustainability transitions. We introduce legal institutionalism to discern different understandings of the role of law as a barrier or a driver in market transformation. Under legal institutionalism, we elaborate on two ontological perspectives, namely the materialist transaction cost approach, and the alternative normative culturalist approach to investigate the behavioral assumptions of market actors in relation to law and organizations as well as of respective barriers and drivers in sustainability transitions.
期刊介绍:
Environmental Innovation and Societal Transitions serves as a platform for reporting studies on innovations and socio-economic transitions aimed at fostering an environmentally sustainable economy, thereby addressing structural resource scarcity and environmental challenges, particularly those associated with fossil energy use and climate change. The journal focuses on various forms of innovation, including technological, organizational, economic, institutional, and political, as well as economy-wide and sectoral changes in areas such as energy, transport, agriculture, and water management. It endeavors to tackle complex questions concerning social, economic, behavioral-psychological, and political barriers and opportunities, along with their intricate interactions. With a multidisciplinary approach and methodological openness, the journal welcomes contributions from a wide array of disciplines within the social, environmental, and innovation sciences.