The Transaction Cost Economics Project PDF Download

Author: Oliver E. Williamson
Publisher: Edward Elgar Publishing
ISBN: 9780857938770
Category : Industrial organization (Economic theory).
Languages : en
Pages : 0

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Book Description
Transaction cost economics has and continues to be a fruitful area of research. There is still much to be done in the field with past research being used in conjunction with the vast number of contractual phenomena that have yet to be investigated in transaction cost economics terms. New challenges are posed by the need to move beyond the design of new contractual instruments (such as financial derivatives) to include an examination of the lurking hazards that attend contract implementation.

Author: Glenn R. Carroll
Publisher: Oxford University Press
ISBN: 0195353196
Category : Business & Economics
Languages : en
Pages : 561

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Book Description
This book examines transaction cost economics, the influential theoretical perspective on organizations and industry that was the subject of Oliver Williamson's seminal book,Markets and Hierarchies (1975). Written by leading economists, sociologists, and political scientists, the essays collected here reflect the fruitful intellectual exchange that is occurring across the major social science disciplines. They examine transaction cost economics' general conceptual orientation, its specific theoretical propositions, its applications to policy, and its use in systematic empirical research. The chapters include classic texts, broad review essays, reflective commentaries, and several new contributions to a wide range of topics, including organizations, regulations and law, institutions, strategic management, game theory, entrepreneurship, innovation, finance, and technical information. The book begins with an overview of theory and research on transaction cost economics, highlighting the specific accomplishments of scholars working within the perspective and emphasizing the enormous influence that transaction cost reasoning exerts on the social sciences. The following section covers conceptual uses for the transaction cost framework and major theoretical or methodological elements within it, such as bounded rationality. While advancing some interesting theoretical propositions, these chapters are in fact more ambitious: each examines a specific field, area, or research program and attempts to fashion a new way of thinking about research questions. In the section on industrial applications, contributors study the application of transaction cost theory to a range of problems in utilities, telecommunications, laser printing, and early international trade. The book closes with four microanalytical chapters that delve into the structures and behaviors of specific aspects of firms and organizations: boards of directors, equity structures, employment models, human resource policies and practices, technology strategies, and innovation events. Firms, Markets, and Hierarchies collects excellent social science work on transaction cost economics, taking stock of its status, charting its future development, and fostering its renewal and evolution.

Author: Michael Dietrich
Publisher: Routledge
ISBN: 1134909829
Category : Business & Economics
Languages : en
Pages : 201

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Book Description
In recent years transaction cost economics have come to dominate the discussion of the nature and organization of firms. In Transaction Costs Economics and Beyond Michael Dietrich offers a critical exploration of transaction costs. He argues that whilst they have much to offer, they are still an inadequate basis for a general theory of the firm. Drawing on theories of organizational behaviour as well as economics, he concludes by offering a theory of the firm that allows for both hierarchical and creative decision making.

Author: Janice Marie Whittington
Publisher: ProQuest
ISBN: 9780549835653
Category :
Languages : en
Pages : 586

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Book Description
Design-build delivery combines the tasks of engineering and construction into one contract with a private entity. Literature promoting design-build emphasizes the savings to cost and time earned from value engineering and concurrent engineering. Though increasingly applied, design-build can be controversial, as it is associated with the privatization of public engineering services.

Author: Chihiro Suematsu
Publisher: Springer
ISBN: 331906889X
Category : Business & Economics
Languages : en
Pages : 273

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Book Description
All organizations, institutions, business processes, markets and strategies have one aim in common: the reduction of transaction costs. This aim is pursued relentlessly in practice, and has been perceived to bring about drastic changes, especially in the recent global market and the cyber economy. This book analyzes and describes “transactions” as a model, on the basis of which organizations, institutions and business processes can be appropriately shaped. It tracks transaction costs to enable a scientific approach instead of a widely used “state-of-the-art” approach, working to bridge the gap between theory and practice. This open access book analyzes and describes “transactions” as a model...

Author: Claude Ménard
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 206

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Book Description
This text deals with some of the most fundamental issues of transaction cost economics. It focuses on the analysis of the internal nature and characteristics of organizations and of the subtle interactions between institutional environment and governance structures over time.

Author: Oliver E Williamson
Publisher: World Scientific
ISBN: 9813202076
Category : Business & Economics
Languages : en
Pages : 220

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Book Description
This book brings together a collection of seven papers on Transaction Cost Economics by Nobel Laureate Professor Oliver E Williamson. The applications of Transaction Cost Economics are extensive, ranging from the field of industrial organization and applied fields of economics such as labor, public finance, comparative economic systems and economic development, to the business fields of strategy, organizational behavior, marketing, finance, operations management, and accounting. In short, as Williamson states, "any problem that originates as or can be reformulated as a contracting problem can be examined to advantage in transaction cost economizing terms." What is referred to as New Institutional Economics is developed in the West in two mainly complementary ways: Property Rights Theory, and Transaction Cost Economics. Of the two, Property Rights Theory developed more rapidly. Transaction Cost Economics has nonetheless taken shape of late. In China, research on New Institutional Economics began in the 1990s and has grown rapidly since. China has similarly given much more attention to Property Rights Theory. Gengxuan Chen, the editor of this volume, recommends that China will benefit by bringing Transaction Cost Economics to bear. Simultaneously, for scholars who study the market economy, Transaction Cost Economics provides a very attractive way to explain the practice of the Chinese market economy.

Author: John Groenewegen
Publisher: Springer Science & Business Media
ISBN: 9400918003
Category : Business & Economics
Languages : en
Pages : 387

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Book Description
This book contains the papers that were presented in 1994 at the conference "Transaction Cost Economics and Beyond" organized by GRASP at the Tinbergen Institute in Rotterdam. It is generally recognized that transaction cost economics (TCE) is at the heart of the new theory of the firm. It is a well established research program with a well developed theoretical framework and good results in empirical testing. However, critics consider the approach too limited to understand the essential characteristics of such complex organizations like firms. Critics plea convincingly for the need to go beyond the original TCE framework and to develop a more pluralistic approach towards issues of economic organization. The new theory of the firm can only be further developed when scholars are willing to debate the issues in an open-minded, academic way. I thank the participants of the conference very much for putting so much effort in writing their papers and for their contribution to an open and stimulating discussion. It is my wish that this book contributes to the further deve lopment of the theory of the firm and that it helps us to a better understan ding of the complexities of economic organization. I would like to thank the following organizations for their support: the Tinbergen Institute, the "Vereniging Trust Fonds" of the Erasmus University, the Faculty of Economics of the Erasmus University, and GRASP (Group for Research and Advice in Strategic management and Industrial Policy).

Author: Maria Maher
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Book Description
One of the key factors in the study of transaction costs economics is the concept of opportunism. Williamson (1986) develops a heuristic model of transaction costs and governance structures, in which the critical dimensions with respect to which transaction costs differ are identified. These dimensions are the frequency of exchange, the degree of relationship-specific investment, and uncertainty. This work examines if empirically, through the use of case studies, there is support for Williamson's model. Firms in four different industries were interviewed about their contractual relationships with their customers or suppliers. The degree of asset specificity and transaction costs differs across these industries and across firms within an industriy. We find that there is strong support for the Williamson model, however, a critical dimension that is omitted from the model is market structure. By affecting the number of alternative sellers and buyers, and hence the risk of opportunism, we find that market structure also has important consequences for the nature of contractual relations to be found governing firms' transactions.

Author: Douglass Cecil North
Publisher: Ics Press
ISBN: 9781558152113
Category : Economic development
Languages : en
Pages : 32

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Book Description