Who needs the assumption of opportunistic behavior? Transaction cost economics does not!

Carsten Allan Koch

    Research output: Working paperResearch

    Abstract

    The assumption of opportunistic behavior, familiar from transaction cost economics, has been and remains highly controversial. But opportunistic behavior, albeit undoubtedly an extremely important form of motivation, is not a necessary condition for the contractual problems studied by transaction cost economics to occur. A broader category of motivation, inappropriate motivation, which is such a necessary condition, is presented and discussed, and a number of implications are presented.
    Original languageEnglish
    Number of pages19
    Publication statusPublished - 2000

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