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Transaction, Search and Switching Costs: An Expository Essay

Author

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  • Singh, Nirvikar

Abstract

This 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.

Suggested Citation

  • Singh, Nirvikar, 2010. "Transaction, Search and Switching Costs: An Expository Essay," MPRA Paper 21558, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:21558
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    File URL: https://mpra.ub.uni-muenchen.de/21558/1/MPRA_paper_21558.pdf
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    References listed on IDEAS

    as
    1. 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.
    2. Singh, Nirvikar, 2010. "Uncertainty and Information: An Expository Essay," MPRA Paper 21556, University Library of Munich, Germany.
    3. Paul Klemperer, 1987. "Markets with Consumer Switching Costs," The Quarterly Journal of Economics, Oxford University Press, vol. 102(2), pages 375-394.
    4. R. Manning & P. B. Morgan, 1982. "Search and Consumer Theory," Review of Economic Studies, Oxford University Press, vol. 49(2), pages 203-216.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    transaction costs; search costs; switching costs; competitive markets; price-taking;

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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