10.4225/03/5934f2e561e68
Lio, Monchi
Monchi
Lio
Uncertainty, Insurance and the Division of Labor
Monash University
2017
1959.1/36374
monash:6992
1996
2017-06-05 05:57:55
Journal contribution
https://bridges.monash.edu/articles/journal_contribution/Uncertainty_Insurance_and_the_Division_of_Labor/5073463
This paper provides a general equilibrium model to explore the relationships between transaction risks, transportation costs and division of labor. It is shown that insurance against transaction risks will change the extent of the market, the level of specialization, productivity and the level of division of labor.