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The Economics of Transaction Costs: Theory, Methods and Application

The Economics of Transaction Costs: Theory, Methods and Application

Paperback

Economics

ISBN10: 1349421855
ISBN13: 9781349421855
Publisher: Springer Nature
Published: Dec 3 2002
Pages: 197
Weight: 0.56
Height: 0.46 Width: 5.50 Depth: 8.50
Language: English
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.

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