经济组织与交易成本(国外英语资料).docVIP

经济组织与交易成本(国外英语资料) Economic organization and transaction cost (Economic Organization and Transaction Cost) Dean of University of Hong Kong Institute of Finance and economy Steven Kos (Coase) is an important extension of the theorem, if all transaction costs are zero, regardless of how to arrange the production and exchange activities, the use of resources are the same. This means that, in the absence of transaction costs, institutional or organizational arrangements can provide selection according to this area, cannot be explained by economic theory. Not only the economic organization is determined randomly, but actually does not have what organization of production and exchange activities are just by the invisible hand of the market guide. But the organization or various institutional arrangements do exist, and in order to explain their existence and change, they must be regarded as the transaction cost under the constraints of the results. In the broadest sense, the transaction costs include all those who cannot exist without property rights, no trading, no any kind of economic organization Robinson Caruso (Robinson Crusoe) in the economic cost. Such a broad definition of transaction cost is necessary, because often cant distinguish between various types of cost. This definition, the transaction cost can be seen as a series of system cost, including the cost of information cost, negotiation cost, formulate and implement contract cost, define and control property cost, supervision and management and the system structural change cost. In short, everything does not occur directly in the material production cost. Obviously, these costs are very important, they are called the transaction costs, may lead to misunderstanding, because they like even in communist countries such as the economy, also looms large. By definition, a total requires people to organize it. In the broadest sense, not all by the invisible hand of the market to guide the production and exchange activ