3 ms·
Transaction costs. Of course. And I'm surprised that the post you're replying to didn't come out and say that, since he brought Ron Coase into the conversation
by CWuestefeld 9y ago
Transaction costs.
Of course. And I'm surprised that the post you're replying to didn't come out and say that, since he brought Ron Coase into the conversation. I mean, for Coase, the effect on markets of non-trivial transaction costs was really the core of his work, at least as I understand it.