منابع مشابه
shortcomings of transaction cost economics
i am going to assess shortcomings of transaction cost economics (tce) of oliver williamson. my argument is that this analysis suffers from misidentification of the relevant problem of the theory, analytical incoherence, inconsistent empirical support and methodological defects. in formulating coase's fundamental idea, williamson accepts an efficient equilibrium which occurs once forever, t...
متن کاملImpulse Control and Optimal Portfolio Selection with General Transaction Cost
In this paper we study an optimal portfolio selection problem under general transaction cost. We consider a simplified financial market that consists of a risk free asset and a risky asset, but the admissible portfolios are only allowed to have piecewise constant paths, reflecting a more practical perspective. The problem is then reduced to an impulse control problem with subadditive transactio...
متن کاملCost-Optimal Algorithms for Planning with Procedural Control Knowledge
There is an impressive body of work on developing heuristics and other reasoning algorithms to guide search in optimal and anytime planning algorithms for classical planning. However, very little effort has been directed towards developing analogous techniques to guide search towards high-quality solutions in hierarchical planning formalisms like HTN planning, which allows using additional doma...
متن کاملstation and foundations of transaction cost economics
transaction cost economics (tce), as a subset of new institutional economics (nie), is the combination of economics, organization and law. noble prize in 2009 was dedicated to oliver williamson who was the most popular face in the economics as tce main contributor. in tce, the main issues on the one hand is how institutions follow characteristics of transactions, on the other hand, the making o...
متن کاملLimits of transaction cost analysis
Nevertheless, there are many unanswered questions of a conceptual, theoretical and empirical nature. Even the term ‘transaction cost’ awaits an adequately precise definition. As Williamson (1995, p. 33) himself notes: ‘There is nonetheless a grave problem with broad, elastic and plausible concepts – of which “transaction costs” is one and “power” is another – in that they lend themselves to ex ...
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ژورنال
عنوان ژورنال: Journal of Politics and Law
سال: 2008
ISSN: 1913-9055,1913-9047
DOI: 10.5539/jpl.v1n3p25