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Published online by Cambridge University Press: 17 August 2023
Information costs are the source of positive transaction costs. This chapter discusses the relationship between the two types of costs, and notes that a particular type of information cost matters. Commodities are complex because they are made up of bundles of attributes which vary in nature and are alterable by humans. The inability to separate and know these two sources of variance is what lies at the heart of positive transaction costs.
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