Transaction Costs: Renderings and Consequences

Although the theory of transaction costs has long been fruitfully used in analysis economy, some its aspects still have an ambiguous understanding among researchers. The purpose article is to analyze such alternative interpretations. It shown that include mainly accounting components, and cases also subjective estimates opportunity costs. Based on literature, erroneous interpretation as unproductive demonstrated, situations identified which minimization certainly contributes growth development economy. final section shows notion transactional benefit (transactional value), researchers believe a costs, fact nothing more than another name for well-known concept benefits joint activity, or trade. taking into account activities trade always part institutional starting with work R. Coase, D. North O. Williamson, due mentioned unlikely make meaningful contribution