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.
|Number of pages||19|
|Publication status||Published - 2000|