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The Border Between Democracy and Centralism:A Perspective from New Institutional Economics Based on transaction cost

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学术界 2011年第2期 245-247页

作者： He Zhe Central Compilation & Translation Bureau

The democratic centralism is the basic organizational institution for China's Communist Party and China's ***,there are many theoretic and practical problems regarding Democratic *** is the essence of this institution and where the border between democracy and centralism is are still *** fact,this issue is as same as the issue in the economics why the market and hierarchy exist at the same ***,based on the transaction cost theory,the reason we explain the coexistence of the democracy and centralism is that the transaction cost for decision in the real world is not *** the border between them is at the point where the marginal costs of the two decision ways are *** means in practice,the selection between the two ways should be dependent on the comparative transaction costs.

关键词： democracy centralism transaction cost

Fuzzy Multi-period Mean-variance-skewness Portfolio Selection Model with transaction cost

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Fuzzy Multi-period Mean-variance-skewness Portfolio Selectio...

A Review on Influences on Make-or-Buy Decision by transaction cost Approach

第36届中国控制会议

作者： Xiaolian Meng Nanyan Lin School of Economics and Management Nanjing University of Science and Technology

ISBN: (纸本)9781538629185

This paper deals with a multi-period portfolio selection problem with fuzzy returns. A mean-variance-skewness model for multi-period portfolio selection is presented by taking into account four criteria viz., short and long term returns, dividends, liquidity and number of assets in the portfolio. The return and risk level are measured by interval numbers in the proposed model. Furthermore, an intelligent algorithm is designed to obtain the optimal portfolio strategy. Finally, a numerical example is provided to illustrate the efficiency of the proposed model and the designed algorithm.

关键词： multi-period portfolio fuzzy theory mean-variance-skewness transaction cost

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A Review on Influences on Make-or-Buy Decision by Transactio...

Effects of China's Administrative Approval Reforms on transaction cost and Economic Growth

2007 International Conference on Public Administration（ICPA 3rd）

作者： LIU Xiao-lan School of Finance School of Economics and Trade Hunan University

ISBN: (纸本)9787811146585

As transaction costs Economics (TCE), partly of what has been termed the "New Institutional Economics", is now taken as one of the main approaches to the research on public administration, this paper aims to make clear that to what extent the empirical literature on the make-or-buy decision support the transaction cost approach. Firstly, this paper examines deferent illustrations on the transaction cost by different economists. Then it outlines the determinants of transaction costs, indicating that the basic three dimensions for describing transaction lies in frequency, investment idiosyncrasy, and uncertainty. Furthermore, drawing on existing literature, this paper puts forth the basic the framework in TCE, which is how to select organizational form or governance structure, is dependent on the best way to trade off between transaction costs and production costs. This paper summarizes that large body of literature has successfully applied transaction cost approach from TCE to illustrate how exchanging conditions affect the optimal form of organization. Then it attaches special attention on three broad approaches, which have had the most influence in the study of make-or-buy decision, and finds transaction cost economics take center stage in these approaches discussed in this article. Finally, it comes to the conclusion that existing research has largely based on insights put forward in TCE. Though there have been some challenges to the TCE framework, the evidence on the transactional determinants of make-or-buy decision seems quite striking and forcefully support the transaction cost approach in make-or-buy decision.

关键词： Bounded rationality Opportunism Make-or-buy decision Organizational form transaction cost

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China Economist 2017年第5期12卷 40-53页

作者：夏杰长刘诚 National Academy of Economic Strategy Chinese Academy of Social Sciences(CASS)

China＇s economic growth miracle despite complicated administrative approval formalities prompted us to raise the following question： ls it true that reforming administrative approval will promote economic growth？ Based on our analysis on market entry, we discovered that reforming administrative approval will spur economic growth by reducing transaction cost for firms. Administrative approval may suppress social cost and propel China＇s economic growth; China＇s gradualist approval reforms may indeed propel economic growth by reducing transaction cost for firms. With the data of prefecture-level cities during 2000-2013 and data of companies listed on the SME board during 2010-2014, we tested the effects of approval reforms on economic growth and on transaction cost, and employed instrumental variable and PSM for the treatment of the endogeneity problem - all these tests led to robust and consistent results. Moreover, we discovered that difference in government policy implementation in the approval process is the root cause of corruption and rent seeking.

关键词： reform of administrative approval economic growth transaction cost socialcost

Arbitrage-free interval of American contingent claims under proportional transaction cost

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控制理论与应用（英文版） 2006年第2期4卷 114-120页

作者： Qingxin MENG Bo WANG Department of Mathematics Huzhou Teachers College Huzhou Zhejiang 313000China Wenzhou Medical College Wenzhou Zhejiang 325035China

In a general continuous-time market model with proportional transaction costs, we derive the range of arbitrage-free prices of American contingent claims. Using a martingale approach, we obtain the upper and the lower... 详细信息

关键词： Hedging American contingent claim transaction cost

A transaction cost Analysis on the Acquisition of Rice Seed by Small-Scale Farmers in ECA Region： Generating Empirical Evidence in Tanzania

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Journal of Food Science and Engineering 2017年第1期7卷 38-48页

作者： Deogratias Lwezaura Agness Ndunguu Ruth Madulu Betty Chalamila Charles Paul Ministry of Agriculture Food Security and Cooperatives Institutional Economics Dares Salaam P.O. Box 2066 Tanzania Mikocheni Agricultural Research Institute Dares Salaam P.O. Box 6226 Tanzania Uyole Agricultural Research Institute Mbeya P.O. Box 400 Tanzania

The present study is an attempt to develop empirical evidence of transaction costs that rice farmers incur in production and other factors that affect farmers＇ demand for seed and estimating the proportion of costs accounted for by transaction costs due to quality seed in the formal and informal sectors, and analyze how these costs affect sourcing decision. An agricultural household model was developed from the study area. To test the model, information was collected in a survey of 387 households. There is now empirical evidence that transaction cost in rice seed acquisition in Tanzanian agriculture is an added cost to the farmer in the process of purchasing seed. Descriptive analysis shows that about 18% of the total seed cost is accounted for transaction cost, which is 2% of the total variable cost in farmers＇ rice farming. Econometric model was fitted to the household data to determine the factors hindering farmers to use purchased quality seed. Factors that were significant in influencing transaction cost include information search, seed source, farmers＇ seed arrangements, trust, and distance from farmers＇ homestead to the seed source, location and age of the farmer. We recommend that, policy amendments inclined towards reduction of the transaction costs can improve the profitability of the rice enterprise by increasing the demand for inputs.

关键词： transaction cost small-holder farmers seed market seed acquisition and quality seed.

An Optimal Portfolio Model with transaction cost

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Journal of Systems Science and Information 2006年第4期4卷 711-720页

作者： Yun Xu College of Mathematics and Systems Sciences Xinjiang University Urmuqi 830046 China

In this paper, a convex programming model for portfolio select with trans- action costs was present, we proved the existence condition of optimal solution, and gave a simple example to the optimal solution.

关键词： optimal portfolio convex programming model optimal solution transaction cost

Research on Efficient Frontier of Portfolios with transaction cost

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Journal of China University of Mining and Technology 2004年第1期14卷 90-93页

作者：吴祝武范胜君周圣武朱开永 College of Science CUMT Xuzhou Jiangsu 221008 China

This paper is concerned with a study on the efficient frontier characters of portfolio with transaction cost. The conclusion is drawn that all portfolios are of positive correlation on the efficient frontier with transaction cost; the sufficient condition for the derivable efficient frontier has also been achieved. Meanwhile, in comparison with the position of the efficient frontier without transaction cost in the plane (σ 2,R), the conclusion has been made that the efficient frontiers with transaction cost drift and its opening shrinks correspondingly. With this study, the content of the efficient frontier is further enriched. It’s very constructive and important for the practical portfolio investment strategy.

关键词： portfolio efficient frontier transaction cost

Numerical Solution of American Put Options Pricing with transaction cost in the CEV Model

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Numerical Solution of American Put Options Pricing with Tran...