Money may have originated through long distance trade, new theory suggests
Two of the most commonly accepted theories for the origin of money are the commodity theory and the chartalist theory. Both ...
JSTOR Daily7y
The Labor Theory of Value: A Marginal Analysis
The difficulties of the classical and Marxian labor theory of value are overcome when labor value is understood as marginal labor value analogously to marginal cost. Marginal labor value is the ...
UBS7y
Oliver E. Williamson
The study of Transaction Cost Economics is just one highlight ... Hart shares an example that illustrates the core of Williamson’s theory of the firm. “If you’re a coal mine, you’re fixed in place,” ...
Harvard Business School7y
An Analytic Derivation of the Cost of Deposit Insurance and Loan Guarantees : An Application of Modern Option Pricing Theory
Merton, Robert C. "An Analytic Derivation of the Cost of Deposit Insurance and Loan Guarantees : An Application of Modern Option Pricing Theory." Journal of Banking & Finance 1 (June 1977): 3–11.
RIETI独立行政法人経済産業研究所5y
Market Quality Theory and the Coase Theorem in the Presence of Transaction Costs
The theorem implies that once ownership is established for such a resource, an efficient allocation will be established in the resulting market if transaction costs are ignorable. This paper shows ...