Covid-19 Measures. Institutional Errors, Transaction Costs and Adaptation in the Agriculture

Minko Georgiev, Dafinka Grozdanova

Abstract: This article combines law, behavioral and institutional economics in order to explain the existence of an“error” in the way the Covid-19 crisis has been managed. Bulgaria’s agriculture is in focus. The problem is presented as arising from the dualism of what is happening in the legal sphere; sub-jective decision-making models; challenges in assessing economic effects. In an institutional per-spective, the levels of are measured: the quantitative changes of the rules; costs, as determining the individual choice, losses, etc. The adaptation of agriculture has been assessed.

Keywords: adaptation; agriculture; Covid-19; measures; transaction cost

Date published: 2021-03-25