The Property Rights and an Efficient Market Order

Monsef, Abdolali; Tehrani, Ali Sadeghi

The Property Rights and an Efficient Market Order

Document Type : Original Article

Authors

Abdolali Monsef

Ali Sadeghi Tehrani

Instructor of Economics, Faculty member of Payame Noor University of Isfahan.

Abstract

Generally, special institutional frameworks are given in economic analysis. The question, however, is that what this framework is and how it can be achieved. This study is an effort to explain the institutional structure of the efficient markets through which the formation of Iranian efficient markets can be facilitated.
The analysis method employed in this research is that of the new- institutionalist approach, in which the formation and change of organizations and institutions are considered endogenous. Hence presupposing the physical situation it is investigated that which institutional structure decreases the transaction costs and maximizes individual interests

Keywords

Efficient markets

transaction cost

maximization

institution

contract

and the rules

منابع و مآخذ

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