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Axiomatic Formulation of the Optimal Transaction Cost Theory in the Legal Process Through Cobb-Douglas Optimization

Author

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  • Bonsu Kwadwo Osei

    (Zhejiang Gongshang University, China)

Abstract

Subject and purpose of work: This paper uses Cobb-Douglas optimization to formulate an optimal transaction cost algorithm within the constraint of a generalized legal framework.

Suggested Citation

  • Bonsu Kwadwo Osei, 2021. "Axiomatic Formulation of the Optimal Transaction Cost Theory in the Legal Process Through Cobb-Douglas Optimization," Economic and Regional Studies / Studia Ekonomiczne i Regionalne, Sciendo, vol. 14(3), pages 385-389, September.
    • Handle: RePEc:vrs:ecoreg:v:14:y:2021:i:3:p:385-389:n:9
    DOI: 10.2478/ers-2021-0027
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    References listed on IDEAS

    as
    1. Jesus Felipe & F. Gerard Adams, 2005. ""A Theory of Production" The Estimation of the Cobb-Douglas Function: A Retrospective View," Eastern Economic Journal, Eastern Economic Association, vol. 31(3), pages 427-445, Summer.
    2. McKelvey, Richard D. & Page, Talbot, 1999. "Taking the Coase Theorem Seriously," Economics and Philosophy, Cambridge University Press, vol. 15(2), pages 235-247, October.
    3. Kwadwo Osei Bonsu & Shoucan Chen, 2020. "Mechanism of Instrumental Game Theory in The Legal Process via Stochastic Options Pricing Induction," Papers 2006.11061, arXiv.org.
    4. Bylund, Per L., 2021. "The Firm versus the Market: Dehomogenizing the Transaction Cost Theories of Coase and Williamson," Strategic Management Review, now publishers, vol. 2(1), pages 79-118, February.
    5. Jeonghyun Kim, 2013. "Revisiting the Learned Hand Formula and Economic Analysis of Negligence," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 169(3), pages 407-432, September.
    Full references (including those not matched with items on IDEAS)

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