The Introduction of Rail Transport in the Prussian Rhine Province: A Transaction Cost Economic History

The transaction costs of semi-public institutions

“…The reason why it is so useful to carefully consider the alignment mechanisms that are necessary for NIE to work as a descriptive model is illustrated by Holterman (2009). That paper discusses the first introduction of rail transport in the German Ruhe area in the 1830s, a subject we will return to in section 3.1, below.…”

“…59 Cf. the approach in Holterman (2009). ously tax the ability of any one scholar, and would run the risk of understating the value of NIE. After all, compared with a theory that is designed "to say a lot about a little", an economic theory will always look clumsy and unrealistic.…”