• Entry
  • Reader's guide
  • Entries A-Z
  • Subject index

Transaction costs represent the economic losses that can result from arranging market relationships on a contractual basis. While most economists studied frictionless models of perfect competition, John Commons and Ronald Coase were early students of contractual ...

Loading
  • Loading...
locked icon

Sign in to access this content

Get a 30 day FREE TRIAL

  • Watch videos from a variety of sources bringing classroom topics to life
  • Read modern, diverse business cases
  • Explore hundreds of books and reference titles