From a transaction-cost economics perspective, market failure typically happens when transaction-specific assets become _____ and therefore more high-control situations are needed.

Question

Quizplus · Accepted Answer

From a transaction-cost economics perspective, market failure typically occurs when transaction-specific assets become more valuable. This increases the risk of opportunistic behavior, making higher control mechanisms necessary to safeguard these valuable assets.

From a Transaction-Cost Economics Perspective, Market Failure Typically Happens When