Graham Roy Marshall

2 Questions 13 Answers 0 Followers

Questions related from Graham Roy Marshall

Whether and how to distinguish transaction costs from production (or abatement) costs in applied economic analysis?

The transaction costs concept was introduced so economics could understand behaviors that could not otherwise be explained (e.g, emergence of firms). However, this has left many applied economists...

14 September 2016 2,215 14 View

What is 'adaptive efficiency'?

Douglass North refers to 'adaptive efficiency' without, in my knowledge, really defining it. Do you know of a good definition for this concept?

30 September 2013 2,597 14 View