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The Economics of Transaction Costs: Theory, Methods and Applications
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ISBN: 0333802683
Author: Rao, P.
Condition: New
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.
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The Economics of Transaction Costs: Theory, Methods and Applications