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GEOG 216 (241)
Lecture

Externalities, Transactions, Linkages

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Department
Geography
Course
GEOG 216
Professor
Geraldine Akman
Semester
Fall

Description
Externalities, Transactions, Linkages Externalities of Agglomeration - Transactional interdependency - When firms close to ea/other, lower transportation costs - Constant buying + selling of transaction costs - Labour markets - Labour force in place, skilled ppl available, easier to find - Creativity: information, knowledge - By being located in same place, there is a lot of info transfer, instits bring ppl together - Ppl rotating in + out of firms constantly meeting ea/other - Social factors, civic institutions - Lots of ties b/w ppl, they talk, info exchange b/w firms - Information exchange results in creativity + innovation - Infrastructure/institutions - Gov regulations, place where ppl hang out perpetuate agglomerations - Institutions that facilitate different
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