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Market institutes have the big advantage thanking Self-interest of agents in protection of the property rights, The economy can favour to administrative decisions On scales "(52, with. 537). Research strategy of theorists of the property rights It is usually reduced to comparison of alternative mechanisms Coordination of an economic activities and an explanation Nonconventional kinds of business practice by variations inCosts do not give in to direct measurement. Unique Attempt quantitatively to estimate their level on a material Economy of the USA have undertaken J. It and D.Nort (66). Analysis basis is the distinction entered by them between
Costs are the costs connected with transformation of expenses in Finished goods, costs for realisation
Behavioural similarity assumes that economic agents Aspire to minimise a total sum of those and other costs, So, do not do between them distinction. And function Transformations, and function of transaction demands real expenses: "Transaktsionnye costs depend on expenses of work, the earth, The capital and enterprise talent, which Are used in the course of a market exchange "(66, with. 97). In Certain limits two these categories of costs Are interchangeable. For definition of costs of transaction of J. It and D.Nort Use following criterion: from the point of view of the consumer, These costs are all its expenses, it Which does not enter into the price paid by it to the seller; from a point Sight of the seller, these costs are all its expenses, Which it would not bear, if "sold" the goods to itself.
The buyer 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 etc. For the seller such costs will consist of expenses on Advertising, hiring of the agent on sale of the real estate, time expenses At house display etc. Thus the purchase and sale certificate can To call secondary transactions and on the party of the buyer, and on
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