Virtual Economy, Transaction Costs Theory

As the product of modern economy, fictitious economy has exceeded the hypostatic economy in size now. The development of the fictitious economy promotes the global economy as well as brings the uncertainty to it especially to the financial system. So it has great academic and practical sense to research the nature of the fictitious economy.Firstly the thesis discusses several topics about fictitious economy, especially the difference between fictitious and several confused definitions, and then the writer point out the destination and conclusion of the research,besides the above the writer introduce the structure of the article to the reader ; Secondly, the writer introduce The New Institutional Economics to the readers connected with fictitious economy; The third part is the core of the thesis. In this part writer insist that there are total three ways to reduce the transaction costs , conclude the fictitious economy is a kind of institutional change in order to reduce the transaction costs, point out the resource of the transaction in fictitious economy and analysis the cost and revenue of fictitious at the end of this part; At last writer fix the attention onto the present situation of china fictitious economy, point out the problem and meanwhile make several suggestions to the government .