Literatures Review on Transaction Costs Measurement Advances
نویسندگان
چکیده
منابع مشابه
Technological Advances, Consumer Transaction Costs, and Consumer Welfare
Consumers incur many transaction costs in purchasing and using most products. This paper examines the effects of a reduction in such consumer transaction costs caused by market-level technological advances. Using a model in which consumers are simultaneously heterogenous in their transaction costs and in their marginal valuation of product quality, we highlight two mechanisms that can cause suc...
متن کاملTransaction Costs and Social Networks in Productivity Measurement
We argue that in the presence of transaction costs, observed productivity measures may in many cases understate the true productivity, as production data seldom distinguish between resources entering the production process and resources of a similar type that are sacrificed for transaction costs. Hence, both the absolute productivity measures and, more importantly, the productivity ranking will...
متن کاملFull - information transaction costs ∗
In a world with private information and learning on the part of the market participants, the (positive) difference between the observed transaction price of an asset and the corresponding unobserved full-information price (the price that reflects private and public information about the asset) represents an ideal measure of market quality. We call this difference “full-information transaction c...
متن کاملShrouded Transaction Costs∗
The proliferation of new payment methods on the Internet rekindles the old and unsettled debate about merchants’ incentive and ability to differentiate price according to payment choice. This paper develops an imperfect-information framework for the analysis of platform and social regulation of card surcharging and cash discounting. It makes three main contributions. First, it identifies the co...
متن کاملNetworks and Transaction Costs
Based on the well-known fact that social networks can provide effective mechanisms that help to increase the trust level between two trade partners, we apply a simple game-theoretical framework to derive transaction costs as a high risk of opportunistic behavior in a repeated trade relation determined by the density and size of trading networks. In the empirical part of the paper we apply a two...
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ژورنال
عنوان ژورنال: Asian Social Science
سال: 2012
ISSN: 1911-2025,1911-2017
DOI: 10.5539/ass.v8n12p127