FILE SELECTED // FILE 00
Transaction Costs
“A price leaves out what it costs to find, negotiate, and enforce an exchange.”
01 / SUMMARY
In short
Transaction costs include search, bargaining, measurement, monitoring, adaptation, and enforcement. They help compare coordination through markets, organizations, networks, or combinations.
03 / SCENE
In the wild
Contracting every task separately looks cheap until specifications, disputes, oversight, and last-minute changes are counted.
04 / LIMIT
The limit
Not every friction is waste; some verification protects quality, rights, or trust.
FINAL NOTE
What remains
Compare the full cost of coordination, not only the visible fee.