Transaction Costs and Institutional Change of Trade Litigations in Bulgaria

Shteryo Nozharov; Petya Koralova–Nozharova

doi:10.37075/RP.2018.3.07

Authors

Assist. Prof. Shteryo Nozharov Department of Economics, Faculty of General Economics, UNWE Author
Chief Assist. Prof. Dr Petya Koralova–Nozharova Department of Economics and Accounting in Transport, Faculty of Transport Management, Todor Kableshkov University of Transport Author

DOI:

https://doi.org/10.37075/RP.2018.3.07

Keywords:

Transaction costs, New institutional economics, Reform of the judicial system, Trade litigations, Shadow economy

D23, K12, O43, P48

Abstract

The methods of new institutional economics for identifying transaction costs of trade litigations in Bulgaria are used in the current paper. The main purpose of the model is to be forecasted the rational behaviour of trade litigation parties in accordance with the transaction costs in the process of enforced execution of the signed commercial contract. The implementation of the model is related to the more accurate measurement of transaction costs on microeconomic level.

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