Transaction, Search and Switching Costs: An Expository Essay
AbstractThis essay provides an elementary, unified introduction to the impacts of transaction, search and switching costs on resource allocation in competitive markets. The emphasis is on incorporating these phenomena into models of price-taking behavior, rather than the more usual treatments with imperfect competition.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 21558.
Date of creation: 22 Mar 2010
Date of revision:
transaction costs; search costs; switching costs; competitive markets; price-taking;
Find related papers by JEL classification:
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
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- Manning, R & Morgan, Peter B, 1982. "Search and Consumer Theory," Review of Economic Studies, Wiley Blackwell, vol. 49(2), pages 203-16, April.
- Nirvikar Singh, 2011.
"Market Institutions: An Expository Essay,"
Journal of Academic Research in Economics,
Spiru Haret University, Faculty of Accounting and Financial Management Constanta, vol. 3(1 (March)), pages 34-51.
- Klemperer, Paul, 1987. "Markets with Consumer Switching Costs," The Quarterly Journal of Economics, MIT Press, vol. 102(2), pages 375-94, May.
- Singh, Nirvikar, 2010. "Uncertainty and Information: An Expository Essay," MPRA Paper 21556, University Library of Munich, Germany.
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