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Bylund on Coasean Transaction Costs

Per Bylund recently published “Signifying Williamson’s Contribution to the Transaction Cost Approach: An Agent-Based Simulation of Coasean Transaction Costs and Specialization” in the Journal of Management Studies. Bylund writes: "It is a simulation test of Coase’s transaction cost approach using agent-based modeling, and what I do is basically show that transaction costs have no explanatory power – but specialization and the division of labor does."  

Ryan McMaken (@ryanmcmaken) is a senior editor at the Mises Institute. Send him your article submissions for Mises Wire and The Austrian, but read article guidelines first. Ryan has degrees in economics and political science from the University of Colorado, and was the economist for the Colorado Division of Housing from 2009 to 2014. He is the author of Commie Cowboys: The Bourgeoisie and the Nation-State in the Western Genre.

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