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Transaction Cost and Crowding [PDF]
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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2015
Abstract: Transaction costs is a generic term referring to the costs of transacting through the market (e.g., search, information, contract, monitoring costs). They are applied with different meanings to organizational structures (e.g., vertical integration), market failures (e.g., externalities), institutional choices (e.g., promotion of clubs), and ...
Marneffe, Wim +2 more
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Abstract: Transaction costs is a generic term referring to the costs of transacting through the market (e.g., search, information, contract, monitoring costs). They are applied with different meanings to organizational structures (e.g., vertical integration), market failures (e.g., externalities), institutional choices (e.g., promotion of clubs), and ...
Marneffe, Wim +2 more
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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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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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Journal of Economic Behavior & Organization, 1987
Abstract Recent and continuing headway notwithstanding, transaction cost economics maintains that our understanding of the economic institutions of capitalism-firms, markets, hybrids, bureaus-is very primitive. It subscribes to the following modest research objective: “to organize our necessarily incomplete perceptions about the economy,
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Abstract Recent and continuing headway notwithstanding, transaction cost economics maintains that our understanding of the economic institutions of capitalism-firms, markets, hybrids, bureaus-is very primitive. It subscribes to the following modest research objective: “to organize our necessarily incomplete perceptions about the economy,
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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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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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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.
Galina Schwartz, Kjell Hausken
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