Social and Behavioral Sciences Commons^™

The Functions Of Transaction Costs: Rethinking Transaction Cost Minimization In A World Of Friction, David M. Driesen, Shubha Ghosh

College of Law - Faculty Scholarship

This article critically examines the goal of minimizing transaction costs, including the costs of legal decision-making. This goal permeates the law and economics literature and has profoundly influenced public policy. While most transaction cost scholarship has focused upon private law, this influence has been especially pervasive in public law, where it has contributed to a variety of legal changes aimed at reducing public transaction costs, often through privatization.

We argue that transaction costs perform useful functions. They frequently enable those engaging in transactions to obtain information needed to correct for information asymmetries or inadequate information. They facilitate efficient transactions, allow …

Comparison Of Law Enforcement Contracts In Onondaga County, Syracuse University. Maxwell School. Community Benchmarks Program

Community Benchmarks Program

This study provides information on the contractual agreements of 14 of the16 police departments

in Onondaga County. The study was conducted by the Community Benchmarks Program (CBP)

at The Maxwell School of Syracuse University.

Information for this study was obtained from the bargaining unit contracts negotiated by

representatives of the police and sheriff’s departments with the governing bodies of their

respective municipalities or the county. The New York State and Local Police and Fire

Retirement System and the 1999 New York Municipal Reference Guide were also used as source material. This report looks at 14 of the 16 contracts in …