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Endogenous Transaction Costs and Division of Labour

In: The Economics of E-Commerce and Networking Decisions

Author

Listed:
  • Xiaokai Yang
  • Yimin Zhao

Abstract

In the emerging literature of general equilibrium models of high development economics (see Fujita and Krugman, 1995 and Krugman and Venables, 1996) and in the growing literature of endogenous specialization (see Yang and Ng, 1998, for a recent survey and selected references), effects of transaction costs on the equilibrium network size of division of labour, the extent of the market, and productivity are explored by formulating a tradeoff between increasing returns and transaction costs. In these models, however, transaction costs are exogenous in the sense that they are not caused by conflicts of interest between players in the economic arena.

Suggested Citation

  • Xiaokai Yang & Yimin Zhao, 2003. "Endogenous Transaction Costs and Division of Labour," Palgrave Macmillan Books, in: Yew-Kwang Ng & Heling Shi & Guang-Zhen Sun (ed.), The Economics of E-Commerce and Networking Decisions, chapter 15, pages 311-327, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-4039-3837-4_15
    DOI: 10.1057/9781403938374_15
    as

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