The economics of transaction costs: theory, methods and applications

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.

Cover -- Half-Title -- Series -- Title -- Copyright -- Contents -- Preface -- Glossary -- Part I. Theory and Methods -- Theory and Methods: Introduction -- 1. Background -- 2. Elements of Industrial Organization -- 3. Economic Externalities -- 4. New Neoclassical Economics -- 5. New Institutional Economics -- Part II. Applications -- Applications: Introduction -- 6. Law and Economics -- 7. Behavioural Economics -- 8. Organizations Theory -- 9. Environmental Economics -- 10. Perspectives -- References -- Index.