TY - CHAP
T1 - Transaction innovation and the role of the firm
AU - Spulber, Daniel F.
PY - 2002/12/1
Y1 - 2002/12/1
N2 - Advances in computers and telecommunications and the development of the Internet have been applied to develop new transaction technologies that lower transaction costs. By lowering transaction costs, these changes in transaction technology make possible transaction innovation, that is, the development of new types of market transactions. Transaction innovation changes not only business methods and organizational design, but the content of transactions and the way that markets are organized. I consider the impact of transaction innovation on the role of the firm in various economic activities including market clearing, auction design, price adjustment, quality certification, and agency.
AB - Advances in computers and telecommunications and the development of the Internet have been applied to develop new transaction technologies that lower transaction costs. By lowering transaction costs, these changes in transaction technology make possible transaction innovation, that is, the development of new types of market transactions. Transaction innovation changes not only business methods and organizational design, but the content of transactions and the way that markets are organized. I consider the impact of transaction innovation on the role of the firm in various economic activities including market clearing, auction design, price adjustment, quality certification, and agency.
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UR - http://www.scopus.com/inward/citedby.url?scp=35448948421&partnerID=8YFLogxK
M3 - Chapter
AN - SCOPUS:35448948421
SN - 0762309717
SN - 9780762309719
T3 - Advances in Applied Microeconomics
SP - 159
EP - 189
BT - The Economics of the Internet and E-commerce
ER -