Economic theory provides various explanations for vertical integration but transaction costs seem to be a major determinant of backward, forward and lateral integration. The paper studies integration trends in the newly emerging Bulgarian pharmaceutical sector, seeking transaction cost...

"Problems Book to Accompany Mathematics for Economists" is intended to complement any course in quantitative methods in economics, mathematical economics for undergraduate students or introductory mathematical economics for graduate students. It is aimed as an inexpensive supplement to nearly...

Machine generated contents note: Chapter 1 - Matrix Algebra -- Chapter 2 - Comparative Statics -- Chapter 3 - General-Function Models -- Chapter 4 - Optimization -- Chapter 5 - Exponential and Logarithmic Functions -- Chapter 6 - Unconstrained Optimization -- Chapter 7 - Constrained Optimization...

This paper relates economic development to transaction costs. It reveals the triad transaction costs-market failure-economic underdevelopment. Many scholars attribute the problems of development to the failure of markets to perform their role of resource allocation. Some deny market failure and...