Abstract
This paper attempts to generalize findings of the traditional literature of transaction cost economics (Willamson, 1971, 1973, 1975, 1985; Ouchi, 1980; Williamson & Ouchi 1981) by introducing more general factors or variables. Two of the most important of these are that asset specificity is replaced by a more general condition, vulnerability, and that the so-called market failure condition is replaced by a condition called contractual non-triviality. Sufficient conditions for non-triviality are found in terms of specific set of values for the basic set of factors.
Originalsprog | Engelsk |
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Publikationsdato | 21 aug. 1992 |
Antal sider | 39 |
Status | Udgivet - 21 aug. 1992 |
Begivenhed | 2nd Nordic Workshop on Interorganizational Research - Yxtaholm, Sverige Varighed: 21 aug. 1992 → 23 aug. 1992 Konferencens nummer: 2 |
Konference
Konference | 2nd Nordic Workshop on Interorganizational Research |
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Nummer | 2 |
Land/Område | Sverige |
By | Yxtaholm |
Periode | 21/08/1992 → 23/08/1992 |
Emneord
- Asset specificity
- Bounded rationality
- Complexity
- Contract
- Goal incongruence
- Human behaviour
- Incomplete contracting
- Market failure
- Mechanisms of protection
- Opportunism
- Ouchi, W.G.
- Relational contracting
- Transaction
- Transaction cost
- Uncertainty
- Williamson, Oliver E.