Summary and Info
In modern economies a substantial proportion of resources is increasingly allocated to transaction costs. An improvement in the definition of transaction costs to include both the information role and efficiency role requires an integration of the approaches of positive economics and normative economics. In The Economics of Transaction Costs P.K. Rao provides a comprehensive analytical treatment of the subject and suggests a few directions for formal economic models.
More About the Author
Raja Sandow (born P. K. Nagalingam) was a Indian film actor, film director and producer. He began his career as an actor in silent films and later became a prominent actor and director in Tamil and Hindi films of the 1930s.
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