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Transaction function.

Publication: International Advances in Economic Research
Publication Date: 01-NOV-08
Format: Online
Delivery: Immediate Online Access

Article Excerpt
JEL D00-D21

The aim of the present research is the development of analytical performance of the transaction function permitting to predict development of the institutional environment of the managing subjects.

The fundamental definitions of institutional economy allow us to select three key dependences of transactional costs from parameters of economic systems. In accordance with T. Eggertsson, a transactional cost is directly proportional to an...

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