1. Prologue
Thank you, Mr. Chairman, for your gracious introduction. I am honored to have the chance to address you on this special occasion. The topic of my paper is “Transaction Cost and Farmers’ Choice of Agricultural Products Selling”. The outline of my talk as follows. The first part I want to introduce the background of this research. The second part suggests a simple household choice model .The third part covers the data used in this research. And then, we introduce the empirical results. Finally, a simple conclusion is given.
2. Introduction
Well, let’s move on the first part of this topic .The motivation of this work like this. Institutional economics posits that agents making decisions on different types of transactions do so in a costly way .For example , farmers deciding sell a particular crop to whom base their decisions not only on the price they expect to receive in each market choice but also on additional costs related to transacting in these markets.
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