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Uncertainty, Insurance and the Division of Labor
journal contribution
posted on 2017-06-05, 05:57 authored by Lio, MonchiThis 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.
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1996Series
Department of Economics.Usage metrics
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