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A significant part of the activity of the UK Department Of Trade and Industry (DTI) is concerned with enhancingbusiness …
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The emergence of the internet leads to a vast increase in the number of interactionsbetween parties that are completely alien to each other. In general, such transactionsare likely to be subject to fraud and cheating. If such systems use computerized rationalagents to negotiate and execute...
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Transaction costs are a major reason why international trade flows are much smaller than traditional trade theory would … suggest. Trust between trading partners lowers transaction costs and may therefore enhance trade. The empirical analysis of … this paper shows that more trust leads to more trade so that part of the mystery of missing trade can be attributed to the …
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