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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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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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The perception and measurement of transaction costs
Cambridge Journal of Economics, 1997The chapter discusses various explanations of how transaction cost-minimising corporate configurations come about. It contrasts Darwinian with rational explanations, finding both unsatisfactory. What matters, rather than computation of fully recognised transaction costs, are managerial perceptions of transaction costs.
Peter J. Buckley, Malcolm Chapman
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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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Farmland Liquidization and Transaction Costs
2010This paper discusses why progress in farmland liquidization through leasing has been very slow in the agricultural sector in Japan, focusing on the transaction costs related to farmland lease. First, this paper points out that transaction costs are an important constraint for farmland lease, and argues by means of a survey of related studies, why ...
TAKAHASHI, Daisuke, TAKAHASHI, Daisuke
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