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transaction costs, history of [PDF]
, 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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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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The Transaction Costs of eProcurement
2004Electronic procurement (eProcurement) has turned out to be a much noticed alternative to traditional procurement strategies taking into account that the implementation of specific information and communication technologies is of essential importance for this strategy type.
Reese, Joachim, Saggau, Björn
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2022
Transaction costs are omnipresent in markets yet are often omitted in economic models. We show that their presence can fundamentally alter incentives and welfare in markets in which the price equates supply and demand. We categorize transaction costs into two types.
Jantschgi, Simon +3 more
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Transaction costs are omnipresent in markets yet are often omitted in economic models. We show that their presence can fundamentally alter incentives and welfare in markets in which the price equates supply and demand. We categorize transaction costs into two types.
Jantschgi, Simon +3 more
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Transaction cost economics in the digital economy: A research agenda
Social Science Research Network, 2018Transaction cost economics theory explains when it is more efficient for a transaction between two parties to occur across the market or within an organization.
F. Nagle, Robert C. Seamans, S. Tadelis
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Online travel insurance purchase intention : a transaction cost perspective
Journal of Travel & Tourism Marketing, 2018Using the transaction cost theory, this study examines customers’ online travel insurance purchase intentions. Data was collected from the life insurers in Taiwan via in-depth interviews and surveys.
Tsu-Wei Yu, Tso-Jen Chen
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Transaction Costs and Incentive Theory
Revue d'économie industrielle, 2000Cet article propose de réconcilier la théorie des incitations et la théorie des coûts de transaction. Nous rappelons dans un premier temps les hypothèses fondamentales sous-tendant le Principe de Révélation utilisé dans la théorie des mécanismes incitatifs.
Malin, Eric, Martimort, David
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Liquidity Premia and Transaction Costs [PDF]
The Journal of Finance, 2005 ABSTRACTStandard literature concludes that transaction costs only have a second‐order effect on liquidity premia. We show that this conclusion depends crucially on the assumption of a constant investment opportunity set. In a regime‐switching model in which the investment opportunity set varies over time, we explicitly characterize the optimal ...
Mark Loewenstein +4 more
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1983
Publisher Summary This chapter highlights the incentives to integrate and transaction cost determinants. It discusses the inadequacy of the simple decision rule, which states that a firm should always integrate across any market for which internal transfers are cheaper than market transactions.
ROGER D. BLAIR, DAVID L. KASERMAN
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Publisher Summary This chapter highlights the incentives to integrate and transaction cost determinants. It discusses the inadequacy of the simple decision rule, which states that a firm should always integrate across any market for which internal transfers are cheaper than market transactions.
ROGER D. BLAIR, DAVID L. KASERMAN
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Transaction Cost Economics As a Constructive Stakeholder Theory
, 2016We submit that the central managerial messages of transaction cost economics (TCE) have been lost or misconstrued in academic debates that miss the underpinning logic of the theory.
M. Ketokivi, Joseph T. Mahoney
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