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Keyword: transaction cost


The Dust Bowl - Natural or Man-made Disaster? (12/21/2001)

High transaction costs, whether natural or artificial, could delay the transfer of property rights from lower-value use to higher-value use.

Keywords: consolidation, disaster, diversification, Dust Bowl, farm size, Great Plains states, Homestead Act, livestock, property right, transaction cost

The Sharing Economy (3/11/2014)

The peer-to-peer rental and sharing economy could lead to more efficient allocation of scarce resources and a cleaner economy.

Keywords: access, AirBnB, capital goods, Coase, insurance, liability, Lyft, ownership, peer-to-peer rental, regulation, RelayRides, shareable goods, sharing economy, transaction cost, Zipcar