"The fundamental idea of transaction costs is that they consist of the cost of arranging a contract ex ante and monitoring and enforcing it ex post, as opposed to production costs, which are the costs of executing a contract."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
University of Cambridge facultyUniversity of Oxford facultyUniversity of Oxford alumniEconomists from ScotlandNon-fiction authors from Scotland
Original Language: English
Available Languages (1)
Sources
p. 904; as cited in Eggertsson (1990; 14)
https://en.wikiquote.org/wiki/R._C._O._Matthews
Revision History
No revisions have been submitted for this quote.
Categories
R. C. O. Matthews
Robert (R.C.O.) Charles Oliver Matthews (16 June 1927 – 19 June 2010) was a Scottish economist, Professor of Political Economy at and later , and chess problemist.
5 quotes on TrueQuotesView all quotes by R. C. O. Matthews →
Related Quotes
"[Neoinstitutional Economics...] theory has made an indispensable contribution in recent times to advances of understa…"
"R. C. O. Matthews (1986), "Presidential Address to the Royal Economic Society." as cited in Eggertsson (1990; 31-32)"
""The chief fault in English economists at the beginning of the [nineteenth] century was... that they did not see how …"
"Matthews described himself as writing economic history in the style of an economist. Sceptical of conventional econom…"
"In general appearance the is an extremely large and powerful fellow, with a beautiful head and speaking countenance, …"
"Very few of the old s interfere with the duties of their assistants, but there be men who seem to think you have mere…"
"Three days at , and up anchor again; our next place of call being . Every one has heard of the , who tried to beat th…"
"When I was a little boy at school, floundering through Herodotus, and getting double doses of fum-fum daily for my An…"
"Every child knows how fond cats are of hunting and catching mice, but no cat any respectability would think of confin…"
"I have dozens of well-authenticated anecdotes of cats who are very expert at fishing. I have, myself, watched a cat b…"