This paper presents a class of examples where a barter economy develops through agents' optimizing decisions into a monetary economy. A barter economy with m commodities is characterized by m(m-1)/2 commodity pair trading posts for active trade of each good for every other. Monetary equilibrium is characterized by active trade concentrated on m-1 posts, those trading in 'money' versus the m-1 o...

Due to limited financial resources of governments, Public Private Partnerships (PPPs) have emerged as one of the most important ways of delivering infrastructure projects. Compared to traditional delivery approaches, PPPs bundle complex investments and service provisions with different project entities in a single long-term contract. Because of these special characteristics, many transactions h...

This paper presents a class of examples where a barter economy develops through agents' optimizing decisions into a monetary economy. A barter economy with m commodities is characterized by m(m-1)/2 commodity pair trading posts for active trade of each good for every other. A monetary economy is characterized by active trade concentrated on m-1 posts, those trading in 'money' versus the m-1 oth...

This paper aims at positioning producer cooperatives within the Transaction Cost Economics theory, one of the most cited and prolific theories on management studies. To accomplish this goal, I will answer the questions what is a cooperative, which transactions producer cooperatives regulate, under which market conditions they operate, and where are the boundaries for such organizations. This pa...