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EQUILIBRIUM WITH TRANSACTION COSTS
Econometrica, 1971Publisher Summary This paper examines some of the modifications required in well known propositions of general equilibrium theory when transactions require resources. Some preliminary remarks on the analysis of money in such economies are also offered.
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SSRN Electronic Journal, 2016
We use industry data to determine whether crowding of the investment space is caused by portfolio construction processes typical to the investment community. In particular, this paper examines the extent that transaction cost models cause crowding of the investment space, even when the investment models are completely unrelated to one another.
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We use industry data to determine whether crowding of the investment space is caused by portfolio construction processes typical to the investment community. In particular, this paper examines the extent that transaction cost models cause crowding of the investment space, even when the investment models are completely unrelated to one another.
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2008
While the basic insight that underlies the transaction cost concept is probably as old as human reflection on economic issues itself, it became associated in the 19th century with the notion of economic friction, which was subsequently expressed as a cost.
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While the basic insight that underlies the transaction cost concept is probably as old as human reflection on economic issues itself, it became associated in the 19th century with the notion of economic friction, which was subsequently expressed as a cost.
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Portfolio Selection and Transactions Costs
Computational Optimization and Applications, 2003zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Best, Michael J., Hlouskova, Jaroslava
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The Quarterly Journal of Economics, 1968
Introduction, 33. — The definition and measurement of transaction cost on the New York stock exchange, 35. — The determination of the ask-bid spread, 40. — The determination of the transaction rate, 45. — Statistical results, 46. — Summary and comments, 50. — Appendix I, 52. — Appendix II, 53.
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Introduction, 33. — The definition and measurement of transaction cost on the New York stock exchange, 35. — The determination of the ask-bid spread, 40. — The determination of the transaction rate, 45. — Statistical results, 46. — Summary and comments, 50. — Appendix I, 52. — Appendix II, 53.
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Transaction costs and iceberg costs
Applied Economics Letters, 2010Iceberg costs are modelled as a transaction cost function, which increases exponentially in an action chosen by each player. The model estimates how much the players' joint ex post shares shrink in terms of their transaction constants and production.
Kjell Hausken, Galina A. Schwartz
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A transaction cost model of IT outsourcing
Information & Management, 2004This paper proposes and tests an explanatory model of information technology (IT) outsourcing behavior. Relying on transaction costs and incomplete contracts theories, the model hypothesizes that characteristics of IT operation activities--asset specificity, uncertainty, business skills, and technical skills required to perform the activities--will ...
Benoit Aubert +2 more
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Paying Transaction Costs [PDF]
, 2006 This paper tries to understand the adoption of different organisational forms by trade intermediaries. It does that by exploring their options in a coherent economic framework emphasizing the importance of paying transaction costs. It is based both on my knowledge of 18th century French traders and some insights from more contemporaneous situations. In
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Transaction Costs and the Pricing of Assets
The Journal of Finance, 1981ABSTRACTThe existence of transaction costs explains why investors do not fully diversify their portfolios. This paper examines the implications of such limited diversification on equilibrium asset prices in the framework of the capital asset pricing model.
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The more we get together, the more we can save? A transaction cost perspective
International Journal of Information Management, 2022Chia-Ying Li, Yu-Hui Fang
exaly