This work intends to assess the evaluation of analytical categories related to the identification of transaction costs. Assuming an analytical model for the identification of the transaction costs proposed by Arbage (2004) in which categories are discussed in terms of which analyses to be made...

Purpose – Seeks to examine changes in the environment in which public policy and public management operate and the claim that bureaucracy has been replaced by post‐bureaucracy as a result of these changes. Design/methodology/approach – The paper proposes reanimated public governance as a...

El propósito del presente trabajo es explicar la utilización de la supervisión indirecta como mecanismo de control usado por los franquiciadores para el aseguramiento de los estándares y la calidad de servicio en el formato de franquicias, y examinar su presencia bajo la teoría de agencia y...

This essay presents a theory of the State as derived from the writings of Coase, Stigler, and Smith. It argues that the state may find a role in (1) lowering the level of transactions costs; and (2) redistributing property rights given the level of non‐zero transactions costs. These tenets...

We show that in a large class of distributed optimal control models (DOCM), where population is described by a McKendrick type equation with an endogenous number of newborns, the reproductive value of Fisher shows up as part of the shadow price of the population. Depending on the objective...

For portfolio choice problems with proportional transaction costs, we discuss whether or not there exists a shadow price, i.e., a least favorable frictionless market extension leading to the same optimal strategy and utility. By means of an explicit counter-example, we show that shadow prices...

Informal care has drawn much attention among scholars and policymakers as it concerns an essential but hard to evaluate resource of welfare. Albeit several studies addressed the monetary value of informal care, differences in the relationship between caregivers and recipients have often been...