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The Concept of Transaction Costs in the Neoclassical and the New Institutional Economics

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  • Teodor Sedlarski

Abstract

The article reflects on the concept and economic significance of the transaction costs as a central theoretical issue to the new institutional economics. Attempts to integrate transaction costs into the neoclassical paradigm are also presented

Suggested Citation

  • Teodor Sedlarski, 2009. "The Concept of Transaction Costs in the Neoclassical and the New Institutional Economics," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 79-87, January.
  • Handle: RePEc:nwe:iisabg:y:2009:i:1:p:79-87
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    More about this item

    Keywords

    transaction costs; Information Economics; equilibrium with transaction costs;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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