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Explain how asset specificity can lead to transaction costs please give 2 examples Please explain well and...

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General Management

Explain how asset specificity can lead to transaction costs

please give 2 examples


Please explain well and upto 500 words

Please solve asap

Answer & Explanation Solved by verified expert
4.2 Ratings (631 Votes)
The asset specificity is the extent to which values or even valuable people can be easily adapted for other purposes Something with high precision is useful only for certain tasks or in certain circumstances Lowprecision assets are flexible resources and therefore more valuable Generally the more specific the asset the lower the potential resale value There are smaller pools than buyers for highly specialized resources Asset specificity is the extent to which assets are useful in many situations and for many purposes This could be a device designed to have a single function    See Answer
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