The Answer Is Transaction Costs

Why Bosses Don't Wear Bunny Slippers: TAITC

4 snips
Aug 27, 2024
Ever wondered why firms thrive in a market economy? Dive into the intriguing world of transaction costs and their impact on organizational choices, like in-house production versus outsourcing. Historical insights from wheat trading reveal inefficiencies before railroads revolutionized agriculture. Discover how technology is reshaping markets to cut transaction costs. Plus, there's a critical look at college admissions interviews and whether they're worth the hassle. It's a fascinating journey through economics and decision-making!
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1
Intro
00:00 • 7min
2
Understanding Transaction Costs in Organizations
07:24 • 7min
3
Understanding Transaction Costs Through Historical Wheat Trading
14:11 • 3min
4
The Impact of Technology on Transaction Costs and Commodification
16:43 • 3min
5
The Inefficiencies of College Admissions Interviews
19:22 • 4min