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An Analytical Framework of Producer-consumers, Economies of Specialization and Transaction Costs

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journal contribution
posted on 06.06.2017 by Wen, Mei
In this paper, an analytical framework of producer-consumers is presented. It is proved that a producer-consumer does not buy and sell the same good, does not buy and self-provided the same good, and sells one good at most if there exist economies of specialization and transaction costs. Based on this, a lot of classical economic thoughts can be resurrected and many interesting results can be obtained from this kind of analytical framework.

History

Year of first publication

1995

Series

Department of Economics.

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