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Comparative advantages of the market and centralised mechanisms Economic coordination: "in general, market institutes tend to Economy on costs of opportunistic behaviour, whereas Administrative institutes - to economy on negotiating costs. Them
Influence on costs for protection of the property rights is more inconsistent. In that
Time as market institutes have the big advantage in force
Interest of agents in protection of the rights, administrative
The economy on scales "(25 can favour to decisions, with. 537).
Work give in to statistical measurement. Unique while attempt
Quantitatively to estimate their level (on a material of economy of the USA) belongs
J. It and D.Nortu (36).
For their analysis division of costs mentioned already into two is initial
Connected with transformation of expenses into finished goods, costs for realisation
The earths, the capital and enterprise talent which are used in
Costs admit productive. Their behavioural similarity assumes,
What is the agents aspire to minimise a total sum of those and others
Costs so, do not do between them distinction. And transformation function, and
Function of transaction demands real expenses. In known limits two these
Categories of costs are interchangeable.
For definition of costs of transaction of J. It and D.Nort use the following
Criterion: from the point of view of the consumer, those are all its expenses,
Which cost is not included into the price paid by it to the seller, from the point of view
The seller - all its expenses which it would not bear if "sold" the goods
Will be defined by hiring of the lawyer, time spent for survey of houses,
Gathering of the information on the prices, duty payment at legal registration of the transaction and
Etc. For the seller such costs will consist of expenses on advertising, hiring
The agent on sale of the real estate, time expenses at house display etc. Thus
The purchase and sale certificate can call secondary transactions and on the party of the buyer, and
On the party of the seller: we will tell, hiring of the lawyer or hiring of the agent on trade
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