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