The lowest-priced brand-new, unused, unopened, undamaged item in its original packaging (where packaging is applicable).Packaging should be the same as what is found in a retail store, unless the item is handmade or was packaged by the manufacturer in non-retail packaging, such as an unprinted box or plastic bag.See details for additional description.
In modern ecomies a substantial proportion of resources is increasingly allocated to transaction costs. An improvement in the definition of transaction costs to include both the information role and efficiency role requires an integration of the approaches of positive ecomics and rmative ecomics. In The Ecomics of Transaction Costs P.K.Rao provides a comprehensive analytical treatment of the subject and suggests a few directions for formal ecomic models.
P. K. RAO is Director at the Centre for Development Research in Lawrenceville, New Jersey. Dr Rao has worked at several institutions including Harvard and Rutgers Universities and has undertaken several major consultancy studies.