In some instances, consideration of transaction costs alone could make internalizing an externality (positive or negative) economically
Question:
In some instances, consideration of ‘transaction costs’ alone could make internalizing an externality (positive or negative) economically indefensible. Can you provide three concrete examples of this nature? In answering this question, make sure to provide a clear definition of transaction cost.
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Transaction costs are the costs associated with making an economic exchange or transaction These costs can include negotiation information gathering contracting monitoring and enforcement When conside...View the full answer
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Related Book For 
Principles Of Environmental Economics And Sustainability
ISBN: 9780415676915
3rd Edition
Authors: Ahmed Hussen
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