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Abstract
This paper briefly introduces concept of Transaction Cost and Transaction cost Economics. The interaction of decisions caused by opportunistic behaviors, bounded rationality under the uncertain environment and information asymetry creates transaction cost. This cost affects the efficiency of market transaction and internal organization. Thus, transaction cost economizing mechanism explains various organizational structures. This paper describes the constituent factors of transaction cost as well as its implications in today business management.
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Article Details
Issue: Vol 7 No 3 (2004)
Page No.: 126-135
Published: Mar 31, 2004
Section: Article
DOI: https://doi.org/10.32508/stdj.v7i3.3185
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Copyright: The Authors. This is an open access article distributed under the terms of the Creative Commons Attribution License CC-BY 4.0., which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
How to Cite
Duy Thanh, T., & Thu Ha, N. (2004). TRANSACTION COST. Science and Technology Development Journal, 7(3), 126-135. https://doi.org/https://doi.org/10.32508/stdj.v7i3.3185
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