Government and the Cost of Exchange in History
构建了一个通用交易成本框架,分析三种交换类型(个人交换、无第三方执行的交换、有第三方执行的交换)的成本,并运用该框架考察历史上政府在交换成本中的作用。
A general transaction cost framework is developed to analyze the costs of exchange and the role of government in the costs of exchange. Three general types of exchange are specified: personal exchange, exchange without third-party enforcement, and exchange with third-party enforcement. The framework is then employed to analyze government and the costs of exchange in history.