|
|
|
| Study on the Source of Transaction Cost with New Research Paradigm |
| WANG Shi-jun |
| |
|
|
|
|
Abstract This paper studies the source of transaction cost based on the paradigm of advantageous behavioral economics. Transaction cost results from two basic economic hypotheses: the advantageous differences among economic entities and self-interest behavior of individuals. Transaction costs are universal costs that define the difference in individual advantages, which are positively correlated with advantageous capacity. They are the outcome of pursuing the maximization of one's own interests. This new economic research paradigm of advantageous behavioral economics makes up for a deficiency of transaction cost theory.
|
|
Received: 03 June 2009
|
|
Corresponding Authors:
WANG Shi-jun
|
|
|
|
|
|
|
2009, Vol. 1 
浙公网安备 33011802000512号