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The Economics of Transaction Costs

Theory, Methods and Application

  • Book
  • © 2003

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Authors:
  1. P. K. Rao

    1. Global Development Institute, USA

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About this book

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.

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Table of contents (10 chapters)

  1. Front Matter

    Pages i-xvi
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  2. Theory and Methods

    1. Front Matter

      Pages 1-1
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    2. Background

      • P. K. Rao
      Pages 5-25

    3. Elements of Industrial Organization

      • P. K. Rao
      Pages 26-40

    4. Economic Externalities

      • P. K. Rao
      Pages 41-59

    5. New Neoclassical Economics

      • P. K. Rao
      Pages 60-87

    6. New Institutional Economics

      • P. K. Rao
      Pages 88-104

  3. Applications

    1. Front Matter

      Pages 105-105
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    2. Law and Economics

      • P. K. Rao
      Pages 109-127

    3. Behavioural Economics

      • P. K. Rao
      Pages 128-140

    4. Organizations Theory

      • P. K. Rao
      Pages 141-151

    5. Environmental Economics

      • P. K. Rao
      Pages 152-169

    6. Perspectives

      • P. K. Rao
      Pages 170-175

  4. Back Matter

    Pages 176-197
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Reviews

'This book provides a comprehensive analytical treatment of the topic of transaction cost economics...an insightful book for economists to take seriously the impacts of transaction costs on economic issues.' - Stéphane Saussier, Professor of Economics, University Nancy II & ATOM-University Panthéon-Sorbonne, Paris, France

Authors and Affiliations

  • Global Development Institute, USA

    P. K. Rao

About the author

P. K. RAO is Director at the Centre for Development Research in Lawrenceville, New Jersey. Dr Rao has worked at several institutions including Harvard and Rutgers Universities and has undertaken several major consultancy studies.

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