Thе Economics of Trаnsаction Costs: Thеory, Mеthods аnd Applicаtions
Publisher: Pаlgrаvе Mаcmillаn
Number of Pages: 224
Published: 2003-02-08
List price: $115.00
In modern economies a substantial proportion of resources is increasingly allocated to transaction costs. An improvement in the definition of transaction costs to include both the information role and efficiency role requires an integration of the approaches of positive economics and normative economics. In The Economics of Transaction Costs P.K. Rao provides a comprehensive analytical treatment of the subject and suggests a few directions for formal economic models.In modern economies a substantial proportion of resources is increasingly allocated to transaction costs. An improvement in the d...