Document Type
Article
Publication Date
5-1993
ISSN
0006-8047
Publisher
Boston University School of Law
Language
en-US
Abstract
Markets are social institutions that facilitate exchange transactions. Therefore, they require a regime of freedom to exchange-a contract regime. Markets can be made more efficient by reducing the transaction and information costs for market actors. Such a reduction can be effected by standardizing the products exchanged, the terms of the transactions, and the nature of the rights transferred. Information costs can be reduced by publicizing the transactions' and by using the services of intermediaries
Recommended Citation
Tamar Frankel,
The Legal Infrastructure of Markets: The Role of Contract and Property Law Essay
,
73
Boston University Law Review
389
(1993).
Available at:
https://scholarship.law.bu.edu/faculty_scholarship/741
