 | Adam Przeworski - 2003 - 244 pages
...offer a tool for the analysis. Consider some definitions. North (1990, p. 27) sees transaction costs as "the costs of measuring the valuable attributes of...protecting rights and policing and enforcing agreements." Williamson (1989, p. 142) defines them as "comparative costs of planning, adapting, and monitoring... | |
 | Hector Fix-Fierro - 2003 - 281 pages
...human exchange relationships by helping to reduce socalled 'transaction costs'. Transaction costs are the costs 'of measuring the valuable attributes of...protecting rights and policing and enforcing agreements'. 107 Since in a complex society, where impersonal exchange predominates, contracts and agreements are... | |
 | Katherine Lynch, Katherine L. Lynch - 2003 - 480 pages
...or economic exchange depends significantly on the reduction of 'transaction costs' of the exchange - the costs of measuring the valuable attributes of...what is being exchanged and the costs of protecting 139. See YOUNG, supra note 42, at 32 and DEZALAY & GARTH, supra note 17, at 15. 140. There are three... | |
 | Marhawati Mappatoba, Regina Birner - 2004 - 229 pages
...stated by North (1990:27), who defines transaction costs as "the cost of transacting, which consists of the costs of measuring the valuable attributes of...protecting rights and policing and enforcing agreements". Other closely related definitions of transaction costs are also proposed by Cheung (1969), Williamson... | |
 | Emanuel Adler, Federica Bicchi, Beverly Crawford, Raffaella A. Del Sarto - 2006 - 409 pages
...'transaction costs.' The costliness of information is key to the costs of transacting, which consists of the costs of measuring the valuable attributes of...protecting rights and policing and enforcing agreements' (North 1990, 27). Thus institutions are desirable, despite the constraints they impose on nation states,... | |
 | Peter Fibiger Bang, Mamoru Ikeguchi, Harmut G. Ziche - 2006 - 281 pages
...rights 13. «The costliness of information is the key to the costs of transacting, which consist of the costs of measuring the valuable attributes of what is being exchanged and the cost of protecting rights and policing and enforcing agreements. These measurement and enforcement... | |
 | Neville Morley - 2007 - 103 pages
...assumption is clearly unrealistic; all exchange involves what are sometimes termed 'transaction costs': 'the costs of measuring the valuable attributes of...protecting rights and policing and enforcing agreements' (North 1990: 27). Herodotus' anecdote, however fictional, illustrates this point. Both parties have... | |
 | Douglas W. Arner - 2007 - 331 pages
...According to North: The costliness of information is the key to the costs of transacting, which consist of the costs of measuring the valuable attributes of...protecting rights and policing and enforcing agreements. These measurement and enforcement costs are the sources of social, political, and economic institutions.... | |
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The costliness of information is the key to the costs of transacting, which consist of the costs of measuring the valuable attributes of what is being exchanged and the costs of protecting rights and policing and enforcing agreements. 
