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Coase did pioneering work on the ways in which transaction costs and property rights affect business and society.
A world in which transaction costs, time and distance are reduced to almost nil.
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Revolution Money offers secure online payments in which transactions are authorized by using a PIN.
bitcoin, noun: a digital currency in which transactions can be performed without the need for a central bank.
bitcoin, n.: a digital currency in which transactions can be performed without the need for a central bank.
It also makes it very hard to tax transactions, despite the best efforts of countries such as Germany, which in August declared that Bitcoin was "private money" in which transactions should be taxed as normal.
Many of the investigations focus on real estate or infrastructure deals made during a decade-long construction boom that was brought to an abrupt end in 2008 by the world financial crisis, in which transactions were masterminded by property entrepreneurs, facilitated by local politicians and recklessly financed by regional banks.
Sales on Auction Universe, while in the mold of person-to-person transactions as on eBay, follow the model of classified sales in which transactions tend to be local.
As part of termination, each server certifies the transaction and commits it, if doing so induces a serializable execution, i.e., one in which transactions appear to have been executed in some serial order.
Accordingly, the process of marketization might not necessarily be associated with depersonalization or socially disembeddedness of market transaction behaviors; on the contrary, the social context in which transactions are embedded may promote market development.
Other words that were shortlisted included "showrooming" - examining a product at a shop before buying it online at a lower price - and bitcoin - a digital currency in which transactions can be performed without the need for a central bank.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com