ECONOMIC NATURE AND FUNCTIONAL ROLE OF TRANSACTION EXPENSES

  • Ольга Викторовна Сафонова Ивановский государственный энергетический университет им. В.И. Ленина
Keywords: transaction expenses, net costs of circulation, incremental costs of circulation, production chain, distribution chain, consumption chain, production expenses, consumption expenses, reproduction, perfect competition, imperfect competition, institutionalism, neo-institutional economy, transactional sector, institutes, theory of contracts, market transaction

Abstract

In literature on economy much attention is paid to the theory of transaction expenses and the study of their influence on the efficiency of business activity. Recent interest to transaction expenses is determined by the substantial increase of number of potential subjects of business relations in the conditions of market economy, and, therefore, increase in number of transactions done, aggravation of competition and strengthening of integration tendencies in business. Complexity and multidimensionality of transaction expenses as economic category determines great variety of their characteristics in the economic literature. Depending on the commitment to this or that theory the attention is accented on different sides of demonstrations and dynamics of these expenses.

Published
2016-12-25
Issue
No 4(30) (2016)
Section
THE ECONOMIC THEORY

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