{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/transaction-cost",
 "identifier": "kaal:entity:transaction-cost",
 "name": "Transaction cost",
 "termCode": "transaction-cost",
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  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
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   "value": 3
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   "@type": "PropertyValue",
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   "value": [
    "2017",
    "2019"
   ]
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 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3067615-001",
   "identifier": "kaal:claim:3067615-001",
   "text": "Initial Coin Offerings are the most efficient means of financing entrepreneurial initiatives in the history of capital formation, because they minimize transaction cost and democratize finance while dis-intermediating banks.",
   "abstract": "Initial Coin Offerings (ICOs) are the most efficient means of financing entrepreneurial initiatives in the history of capital formation. ICOs minimize transaction cost and democratize finance while dis-intermediating banks.",
   "citation": "Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615",
   "datePublished": "2017",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "ICO market as of November 2017"
   ],
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   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3117224-001",
   "identifier": "kaal:claim:3117224-001",
   "text": "Initial Coin Offerings provide unprecedented liquidity and efficiency for capital formation while minimizing transaction cost.",
   "abstract": "Initial Coin Offerings (ICOs) provide unprecedented liquidity and efficiency for capital formation while minimizing transaction cost.",
   "citation": "Wulf A. Kaal, Initial Coin Offerings The Top 25 Jurisdictions and Their Comparative Regulatory Responses (2018). SSRN: https://ssrn.com/abstract=3117224",
   "datePublished": "2018",
   "claim_type": "mechanism",
   "confidence": "asserted",
   "is_failure_mode": false,
   "scope_conditions": [],
   "source_pdf_sha256": "83e9ccb9219a217d9fcfc5c098b897229ee7cf85623bee3ae22d2e986548466b",
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  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3441904-011",
   "identifier": "kaal:claim:3441904-011",
   "text": "Inexpensive open source smart contracts eliminate a major motivation for creating a firm under Coase's transaction cost theory, because they enable trustworthy transactions of any size with minimal transaction cost and high transaction security.",
   "abstract": "Inexpensive open-source smart contracts eliminate a major motivation for creating a firm under Ronald Coase's transaction cost theory.",
   "citation": "Wulf A. Kaal, Blockchain-Based Corporate Governance (2019). SSRN: https://ssrn.com/abstract=3441904",
   "datePublished": "2019",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "transactions that can be executed through smart contracts"
   ],
   "source_pdf_sha256": "e6b562527f7f19accaa35491db0a0db168b6a936755e1dca424e9f30bee7a815",
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 ],
 "description": "3 claims in the published works of Wulf A. Kaal carry the concept tag 'transaction-cost'. Derived node: a roster, not an adjudicated definition."
}