The Economics of Transaction Costs - Theory, Methods and Application

In modern economies a substantial proportion of resources is increasingly allocated to transaction costs. An improvement in the definition of transaction costs to include both the information role and efficiency role requires an integration of the approaches of positive economics and normative economics. In The Economics of Transaction Costs P.K.Rao provides a comprehensive analytical treatment of the subject and suggests a few directions for formal economic models.

List of contents

Preface PART I: THEORY AND METHODS Background Elements of Industrial Organization Economic Externalities New Neoclassical Economics New Institutional Economics PART II: APPLICATIONS Law and Economics Behavioural Economics Organizations Theory Environmental Economics Perspectives Glossary Index

About the author

P. K. RAO is Director at the Centre for Development Research in Lawrenceville, New Jersey. Dr Rao has worked at several institutions including Harvard and Rutgers Universities and has undertaken several major consultancy studies.

Summary

In modern economies a substantial proportion of resources is increasingly allocated to transaction costs. An improvement in the definition of transaction costs to include both the information role and efficiency role requires an integration of the approaches of positive economics and normative economics. In The Economics of Transaction Costs P.K.Rao provides a comprehensive analytical treatment of the subject and suggests a few directions for formal economic models.

Additional text

'This book provides a comprehensive analytical treatment of the topic of transaction cost economics...an insightful book for economists to take seriously the impacts of transaction costs on economic issues.' - Stéphane Saussier, Professor of Economics, University Nancy II & ATOM-University Panthéon-Sorbonne, Paris, France

Report

'This book provides a comprehensive analytical treatment of the topic of transaction cost economics...an insightful book for economists to take seriously the impacts of transaction costs on economic issues.' - Stéphane Saussier, Professor of Economics, University Nancy II & ATOM-University Panthéon-Sorbonne, Paris, France

Product details

• Authors: P Rao, P. Rao
• Publisher: Springer Palgrave Macmillan
• Languages: English
• Product format: Paperback / Softback
• Released: 01.01.2016
• EAN: 9781349421855
• ISBN: 978-1-349-42185-5
• No. of pages: 197
• Dimensions: 144 mm x 215 mm x 14 mm
• Weight: 278 g
• Illustrations: XVI, 197 p.
• Subjects: Social sciences, law, business > Business > Economics; B, Business, Leadership, Business and Management, Business Strategy/Leadership, macroeconomics, Business & management, Economic Theory, Business and Management, general, business strategy, Industries, Macroeconomics and Monetary Economics, Macroeconomics/Monetary Economics//Financial Economics, Monetary Economics, Management science, Quantitative Economics, Industry & industrial studies, Economic Theory/Quantitative Economics/Mathematical Methods, Business Strategy and Leadership, Palgrave Economics & Finance Collection