TAITC: Episode 1
The Answer Is Transaction Costs
00:00
The Importance of Transaction Costs in Golf
Golfers playing at night would be a better use of the resource, says EC. Jeff Brennan's point was that what was preventing in this case, inefficient use of theResource is the transaction cost of organizing an alternative way of delivering golf services. Almost nothing is actually being devoted to its highest valued use in the abstract.
Transcript
Play full episode
