The Answer Is Transaction Costs
Science:Social Sciences
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What is it that beach parking lots are actually selling? Why do beer bottles cost more than cans? And just what are costs of the thing, as opposed to the costs of selling or buying the thing? Can you really separate them out?
Book o'da'week: Dealers of Lightning: Xerox PARC and the Dawn of the Computer Age Kindle Edition Michael A. Hiltzik, 2009, Harper-Collins. https://www.amazon.com/Dealers-Lightning-Xerox-PARC-Computer/dp/0887309895
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You can follow Mike Munger on Twitter at @mungowitz
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