Welcome to visit ACADEMIC MONTHLY,Today is

Volume 57 Issue 11
November 2025
Article Contents

Citation: TANG Jijun. Neoclassical Economics, Transaction Costs and the Institutional Turn of Industrial Organization Theory[J]. Academic Monthly, 2025, 57(11): 62-72. shu

Neoclassical Economics, Transaction Costs and the Institutional Turn of Industrial Organization Theory

  • To investigate the anti-monopoly in terms of transaction cost theory, we found the relationship between transaction costs and market failure. We make use of the transaction costs to take into account market failure and government anti-monopoly, but we may pay more attention to the transaction costs on government anti-monopoly beyond the neoclassical economics within Harvard and Chicago Schools, which are implied by zero transaction costs, the former is concerned with market failure, the latter is concerned with efficient market. Once introduce the transaction costs and bounded rationality into government anti-monopoly, we found that transaction costs lead to imperfect goods market and governance structure choice is needed away from traditional monopoly explanation. Hence we combine the transaction costs and anti-monopoly, we gain insights from the real world under positive transaction costs. At the same time, we turn out to be shift from the monopoly inefficiency to saving-transaction costs efficiency. We propose some policy to reduce transaction costs and information asymmetry, promote to enforce transaction cost minimization within comparative institutional analysis framework, and these policy guidelines are necessary to government anti-monopoly for socialist market economies with high level, avoiding the dichotomy between market mechanism and government intervention.
  • 加载中
    1. [1]

      SHI Dan ,  LI Peng . The Least-Cost Path for Energy Use in the Process of Modernization——Scenario Analysis and Theoretical Examination. Academic Monthly, 2026, 58(1): 45-58.

    2. [2]

      XU Yong . Community Consolidation through Institutions: An Analysis of the Micro-institutions of Small-Scale Groups. Academic Monthly, 2026, 58(3): 77-90.

    3. [3]

      SHEN Yifei . Theoretical Genealogies of the Emotional Economy and the Chinese Context. Academic Monthly, 2026, 58(7): 129-142.

    4. [4]

      LIU Wei . Several Important Theoretical Issues Needing Further Clarification for the Growth and Expansion of the Private Economy. Academic Monthly, 2026, 58(7): 41-53.

    5. [5]

      ZHOU Mujun . Between Theory and Empirical Facts: Habermas and the Sociological Debate on the Public Sphere. Academic Monthly, 2026, 58(8): 157-170.

    6. [6]

      FENG Yurong . “Illuminating Ancient Learning,Introducing New Knowledge”: Xin Yizong Bidu and the Shift in the Construction of Modern Traditional Chinese Medicine Knowledge. Academic Monthly, 2026, 58(6): 180-190.

    7. [7]

      LI Ting . From The Reproductive Institution to the Fertility Transition in Contemporary China. Academic Monthly, 2026, 58(7): 143-156.

    8. [8]

      RAN Gaoran . The Evolution and Game of Property Systems——On the Paradigm Choice for Data Property. Academic Monthly, 2026, 58(7): 117-128.

    9. [9]

      ,  . . Academic Monthly, 2026, 58(2): 210-216.

    10. [10]

      LIN Shangli . China's Mission in Constructing Original Theories and Its Methodological Foundation. Academic Monthly, 2026, 58(7): 5-11.

    11. [11]

      ZHAO Lin ,  ZHANG Boyu ,  LIANG Hua . The Relationship Between Monopoly and Innovation in Information Product Markets——A Growth Network Perspective. Academic Monthly, 2026, 58(7): 64-76.

    12. [12]

      ZHANG Yahui ,  Xia Dao Cai Rang . Mandala and Shambhala: An Anthropological Analysis of the Origin Myth for the Ches-pa Tribe. Academic Monthly, 2026, 58(1): 158-169.

    13. [13]

      ZHANG Jun ,  FANG Hongsheng . Intergovernmental Fiscal Relations and Economic Growth. Academic Monthly, 2026, 58(8): 70-90.

    14. [14]

      LI Yushuan . New Changes and Causes of the Poetry Style of Monks in the Ming Dynasty. Academic Monthly, 2026, 58(7): 170-180.

    15. [15]

      DING Huiping . Invisible Governance and the Rebuilding of Local Social Order: A Historical Sociology Analysis of Qi Biaojia's Famine Relief Action in Late Ming Dynasty. Academic Monthly, 2026, 58(3): 143-154.

    16. [16]

      HU Yiqing ,  MA Zhihao ,  ZONG Yixiang . A Decade Review and Evaluation of the Development in the Discipline of Journalism and Communication (2009—2018)——Analysis Based on the Comprehensive Index of Humanities and Social Sciences. Academic Monthly, 2026, 58(6): 206-216.

    17. [17]

      DI Jinhua ,  XIAO Mingjia . The Production of Flexibility in Local Governments and the Softening of Budgetary Constraints——An Analysis Based on Township-Owned Enterprises in Xixiang. Academic Monthly, 2026, 58(1): 147-157.

    18. [18]

      NI Liangkang . The Philosophy of History of “New Idealism” after Hegel: Neo-Hegelianism. Academic Monthly, 2026, 58(7): 12-22.

    19. [19]

      YANG Dian ,  DONG Shuhao . The Social Construction of Economic Value——Evidence from Financial Markets, with a Discussion on Building a Valuation System with Chinese Characteristics. Academic Monthly, 2026, 58(1): 131-146.

    20. [20]

      WEN Jun . From Technical Tokens to Social Tokens: the Ontological Construction of Token Sociology. Academic Monthly, 2026, 58(8): 145-156.

Article Metrics

Article views: 1907 Times PDF downloads: 36 Times Cited by: 0 Times

Metrics
  • PDF Downloads(36)
  • Abstract views(1907)
  • HTML views(430)
  • Latest
  • Most Read
  • Most Cited
        通讯作者: 陈斌, bchen63@163.com
        • 1. 

          沈阳化工大学材料科学与工程学院 沈阳 110142

        1. 本站搜索
        2. 百度学术搜索
        3. 万方数据库搜索
        4. CNKI搜索

        Neoclassical Economics, Transaction Costs and the Institutional Turn of Industrial Organization Theory

        Abstract: To investigate the anti-monopoly in terms of transaction cost theory, we found the relationship between transaction costs and market failure. We make use of the transaction costs to take into account market failure and government anti-monopoly, but we may pay more attention to the transaction costs on government anti-monopoly beyond the neoclassical economics within Harvard and Chicago Schools, which are implied by zero transaction costs, the former is concerned with market failure, the latter is concerned with efficient market. Once introduce the transaction costs and bounded rationality into government anti-monopoly, we found that transaction costs lead to imperfect goods market and governance structure choice is needed away from traditional monopoly explanation. Hence we combine the transaction costs and anti-monopoly, we gain insights from the real world under positive transaction costs. At the same time, we turn out to be shift from the monopoly inefficiency to saving-transaction costs efficiency. We propose some policy to reduce transaction costs and information asymmetry, promote to enforce transaction cost minimization within comparative institutional analysis framework, and these policy guidelines are necessary to government anti-monopoly for socialist market economies with high level, avoiding the dichotomy between market mechanism and government intervention.

          HTML

        Relative (20)

        目录

        /

        DownLoad:  Full-Size Img  PowerPoint
        Return