transaction cost

Definitions

Economics

Health Economics

  • (written as Transaction Cost)
    The cost of making any kind of transaction in a market. It includes the costs involved in searching for possible providers of (or clients for) service, the range of services offered, assessing their quality, their fees and charges, any agent 's or broker's charges, any time spent in waiting rooms, and any other cost that is not a part of the money price actually paid for the service.
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