Prominent scholars have complained of inadequate clarity and agreement on what transactions are, and how their costs are measured. This two-part article explores this topic and suggests an alternative approach. This part examines different meanings of transaction cost used by leading scholars in...

The multifaceted process of globalisation has dramatically expanded international trade and investment and increased the frequency of cross border legal disputes. The volume of international litigation will continue to expand, despite the high level of risk, cost and delay that is involved. The...