Abstract
The paper considers the question of the evolution of the conception of economic space within the approaches of the classical school of the location of productive forces, the gravity model of international trade, the walrasian equilibrium model, as well as institutional analysis. Physicalist metaphors are considered in parallel with this evolution. It is emphasized that economic objects lack clear-cut boundaries, which leads to the problem of ignoring the heterogeneity of space. It is demonstrated that competition within the Walrasian space reduces the degree of heterogeneity, whereas the Coasian space is inherently heterogeneous. The changes in institutional regimes, blurring of property rights and specifying their identification can both decrease and increase transaction costs. it is inferred that the concept of boundaries of objects is of great importance to economic research.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
