The Economics of Transaction Costs: Theory, Methods and Application

by P. Rao

Overview

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.

Product Details

ISBN-13:	9780333802687
Publisher:	Palgrave Macmillan UK
Publication date:	12/03/2002
Edition description:	2003
Pages:	197
Product dimensions:	5.51(w) x 8.50(h) x 0.02(d)

About the Author

P. K. RAO is Director at the Centre for Development Research in Lawrenceville, New Jersey. Dr Rao has worked at several institutions including Harvard and Rutgers Universities and has undertaken several major consultancy studies.

Table of Contents

Preface PART I: THEORY AND METHODS Background Elements of Industrial Organization Economic Externalities New Neoclassical Economics New Institutional Economics PART II: APPLICATIONS Law and Economics Behavioural Economics Organizations Theory Environmental Economics Perspectives Glossary Index

Editorial Reviews

'This book provides a comprehensive analytical treatment of the topic of transaction cost economics...an insightful book for economists to take seriously the impacts of transaction costs on economic issues.' - Stéphane Saussier, Professor of Economics, University Nancy II & ATOM-University Panthéon-Sorbonne, Paris, France

From the Publisher