A TRANSACTIONAL COST APPROACH TO THE NATURAL MONOPOLY REGULATION
<p>The transactional cost framework seeks to identify the characteristics of transactions that lead classical “spot markets” to fail, in the sense that the spot market is a more costly mode of exchange than alternative institutional arrangements (e.g. some type of long term contract or vertica...
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| Format: | Article |
| Language: | English |
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Uniwersytet Mikołaja Kopernika
2006-12-01
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| Series: | Ekonomia i Prawo |
| Online Access: | http://apcz.umk.pl/czasopisma//index.php/EiP/article/view/616 |
| Summary: | <p>The transactional cost framework seeks to identify the characteristics of transactions that lead classical “spot markets” to fail, in the sense that the spot market is a more costly mode of exchange than alternative institutional arrangements (e.g. some type of long term contract or vertical integration).</p> <p>This paper provides a theory of natural monopoly regulation that parallels the theory of the firm and the theory of contractual institutions.</p> |
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| ISSN: | 1898-2255 2392-1625 |