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In some cases spot markets failure to govern to whole or a part of the marketing channel effectively and contractual relations are gaining more importance. It is especially true in case of agricultural markets, since these markets became more differentiated and market players are vulnerable in...
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’s theory is based on the notion of a broad understanding of institutions that considers habits of thought as the core of …. Second it is stressed out in Veblen’s theory the endogenous relationship among individuals and institutions, called by … approach based on methodological individualism in which institutions are the result of individual choices. In Veblen’s theory …
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