This conceptual paper develops a new perspective linking the concept of “adaptive efficiency” with the allocative, discovery and creative functions of the market from an institutional perspective. The efficacy of the adaptive efficiency of market functions in improving economic performance is proposed to be measured by changes in transaction costs. This perspective enables an analysis of the independent and interrelated effects of these functions, provides a more complete understanding of entrepreneurial activities and the efficient allocation of resources, better deals with the central problems of economic system and organisation, namely, adaptation and the coordination of knowledge, and has useful implications for public policy.

中文翻译：

---

将“自适应效率”与基本市场功能联系起来：制度和政策分析的新分析视角

该概念文件提出了一个新的观点，即从制度的角度将“适应效率”的概念与市场的分配，发现和创造功能联系起来。建议通过交易成本的变化来衡量市场职能的适应效率在改善经济绩效中的效力。这种观点可以分析这些职能的独立和相互关联的影响，更全面地了解企业家活动和资源的有效分配，更好地解决经济体系和组织的核心问题，即知识的适应和协调，对公共政策有有益的启示。