Such terms of insured not only increases the efficiency, saves the transaction cost and improve company's management, but also bring strong impact on traditional freedom of contract.

保价条款的出现，一方面提高了效率，节约了交易成本，便于企业进行管理；另一方面也给传统的契约自由理论带来巨大的冲击。

youdao

Reduce the transaction cost, raise the efficiency of purchasing.

降低交易成本，提高采购效率。

youdao

Coase's valuable theorem says that if the transaction cost is zero, the transaction will reach the Pereto economic optimum efficiency with a clear definition of property rights.

前言：科斯的效益定理认为，如果交易成本为零，那么明确的产权界定都会达到经济效率帕累托最优。

youdao