摘要
It should be said that the issue of how to measure transaction cost has existed ever since the day the idea of transaction cost came into being, although the concept was only formally put forward as late as 1960 by Kenneth J. Arrow. According to Ronald Coase, 'The main reason why profitable to establish a firm would seem to be that there is a cost of using the price mechanism.' 'The explanation for the existence of enterprises that allocate resources through internal managerial decisions lies in the avoidance of the cost that would be incurred if the transaction was carried out through the market.' Obviously, what needs to be done next is to quantify the 'cost of making use of the price mechanism.'
It should be said that the issue of how to measure transaction cost has existed ever since the day the idea of transaction cost came into being, although the concept was only formally put forward as late as 1960 by Kenneth J. Arrow. According to Ronald Coase, ＂The main reason why profitable to establish a firm would seem to be that there is a cost of using the price mechanism.＂ ＂The explanation for the existence of enterprises that allocate resources through internal managerial decisions lies in the avoidance of the cost that would be incurred if the transaction was carried out through the market.＂
