Transaction costs in the assessment of the level of favored conditions: medium viscosity and resistance of economic agent

Abstract

Demonstration of transaction costs traditionally associated with the effect of friction in the economy, where the quality of the institutional environment determines the complexity and expensiveness of activity of economic agents, making social and economic interaction between the two. In order to select the most suitable conditions in the study is an integrated model of assessing the level of ease of data management conditions, complete view of the factor viscosity of the medium in the form of a specific magnitude of transaction costs, conducted empirical testing methodology in a regional context.