Trust is a sine qua non for trade. According to transaction cost economics, a contract always offers some opportunity to defect. In the case of asymmetric product information, wher...
Gert Jan Hofstede, Catholijn M. Jonker, Tim Verwaa...
According to transaction cost economics, contracts are always incomplete and offer opportunities to defect. Some level of trust is a sine qua non for trade. If the seller is better...
Gert Jan Hofstede, Catholijn M. Jonker, Tim Verwaa...