There is a lovely apocryphal story, generally told about Dwight D. Eisenhower during his time as president of Columbia University: The school was growing, necessitating an expansion of the campus, which produced a very hot dispute between two groups of planners and architects about where the...

Chapter1 -- Chapter5 -- _GoBack -- Chapter7 -- _Hlk31203049 -- _Hlk492205620 -- About the author -- Acknowledgements -- Summary -- Figures -- 1 Introduction -- 2 Revolutions and disruption -- Transaction costs and commodifying excess capacity -- Owning, renting and the commodification of excess...

With the growing popularity of apps such as Uber and Airbnb, there has been a keen interest in the rise of the sharing economy. Michael C. Munger brings these new trends in the economy down to earth by focusing on their relation to the fundamental economic concept of transaction costs. In doing...