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.
- ISBN10 1403918570
- ISBN13 9781403918574
- Publish Date 27 May 2014
- Publish Status Active
- Publish Country US
- Imprint Palgrave Macmillan
- Edition New ed.
- Format eBook
- Language English