%0 Journal Article %A Lio, Monchi %D 2017 %T Uncertainty, Insurance and the Division of Labor %U https://bridges.monash.edu/articles/journal_contribution/Uncertainty_Insurance_and_the_Division_of_Labor/5073463 %R 10.4225/03/5934f2e561e68 %2 https://bridges.monash.edu/ndownloader/files/8588848 %K 1959.1/36374 %K monash:6992 %K 1996 %X This paper provides a general equilibrium model to explore the relationships between transaction risks, transportation costs and division of labor. It is shown that insurance against transaction risks will change the extent of the market, the level of specialization, productivity and the level of division of labor. %I Monash University