Transaction costs, information technology and development
نویسندگان
چکیده
منابع مشابه
Transaction costs, information technology and development
Purpose – The purpose of this paper is to examine the impact of transaction costs on economic welfare and development, and the role of information technology (IT) in reducing transaction costs. Design/methodology/approach – The paper extends the static model of Romer, in which transaction costs reduce welfare by reducing the equilibrium number of intermediate goods, and estimate the welfare los...
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 کاملDoes information technology always lead to lower transaction costs?
This paper reconsiders the effect of information technology on transaction costs in view of IT externalities and coordination costs. The aim of the paper is to show that IT has ambivalent effects on the overall transaction costs. This analysis is based on the idea that IT externalities have both positive and negative effects on coordination and thus transaction costs. Two different strategies t...
متن کاملTransaction costs and information systems
Transaction cost theory has often been used to support to support the idea that information and communication technology (ICT) can reduce imperfection in the economic system. Electronic markets and hierarchies have repeatedly been described as solutions to inefficiencies in the organisation of transactions in complex and uncertain settings. Far from criticising this assumption, this paper highl...
متن کاملInformation Technology and Switching Costs Information Technology and Switching Costs
Switching costs, the real or perceived cost of changing product providers, has become increasingly important in information-intensive businesses. Reduced search and transactions costs have made it possible for customers to more readily evaluate alternative suppliers, increasing switching. At the same time, the high fixed cost structure of customer acquisition and operations in information-inten...
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ژورنال
عنوان ژورنال: Indian Growth and Development Review
سال: 2008
ISSN: 1753-8254
DOI: 10.1108/17538250810903792