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Beyond Transaction Costs
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Book Synopsis Transaction Cost Economics and Beyond by : Michael Dietrich
Download or read book Transaction Cost Economics and Beyond written by Michael Dietrich and published by Routledge. This book was released on 2008-01-28 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Transaction Cost Economics and Beyond by : Michael Dietrich
Download or read book Transaction Cost Economics and Beyond written by Michael Dietrich and published by Routledge. This book was released on 2008-01-28 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Beyond Transaction Costs by : Martin Kenney
Download or read book Beyond Transaction Costs written by Martin Kenney and published by . This book was released on 2000 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Transaction Cost Economics and Beyond by : John Groenewegen
Download or read book Transaction Cost Economics and Beyond written by John Groenewegen and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 387 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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).
Book Synopsis Markets with Transaction Costs by : Yuri Kabanov
Download or read book Markets with Transaction Costs written by Yuri Kabanov and published by Springer Science & Business Media. This book was released on 2009-12-04 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book is the first monograph on this highly important subject.
Book Synopsis Transaction Cost Management by : Chihiro Suematsu
Download or read book Transaction Cost Management written by Chihiro Suematsu and published by Springer. This book was released on 2014-08-07 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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...
Book Synopsis The Transaction Cost Economics Project by : Oliver E. Williamson
Download or read book The Transaction Cost Economics Project written by Oliver E. Williamson and published by Edward Elgar Publishing. This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Toward Behavioral Transaction Cost Economics by : George Z. Peng
Download or read book Toward Behavioral Transaction Cost Economics written by George Z. Peng and published by Springer Nature. This book was released on 2020-10-26 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: Adopting a critical realist position, this book renders transaction cost economics (TCE) into a behavioral theory of organizational decision-making by foregrounding psychological processes and introducing and integrating with effectuation theory. Consistent with its behavioral agenda, the book introduces the concept of uncertainty controllability and provides a clearer conceptualization and a novel modeling strategy of bounded rationality based on the conceptual separation of cognitive bounds from psychological ‘rationalizing.’ The book inspires new insights into the significance of cultural distance (CD). Based on the understanding that culture is socially-extended cognition, the author re-conceptualizes CD as reflecting cognitive bounds, and uses the biases arising from CD to contextualize effectuation and deepen the flat ontology of both TCE and effectuation theory. The book presents a full two-sided behavioral framework of organizational decision-making, with behavioral TCE and behavioral real options theory complementing each other to complete the full behavioral picture. Both sides are further linked to organizational learning, which reduces biases over time and thus drives governance structures toward more rational directions. The full framework uses prospect theory as the overarching theory that determines which side of the behavioral framework is relevant for the uncertainty of concern based on the different problem frames resulting from different degrees of uncertainty controllability. Because effectuation can take place on both sides of the framework based on competing risk logics, prospect theory serves to harmonize inconsistencies in the effectuation literature as a side note. This book applies the behavioral TCE side of the framework to the study of MNC subsidiary ownership decision-making process using a dataset of over 10,000 Japanese subsidiaries founded in 43 host countries. It concludes with a discussion of implications and future directions for TCE in general and international business in particular.
Download or read book Transaction Cost written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-02-06 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Transaction Cost When it comes to economics and other related fields, a transaction cost is a cost that is incurred when engaging in any kind of economic trade involving participation in a market. Oliver E. Williamson's article titled "Transaction Cost Economics," which was released in 2008, is credited with popularizing the concept of transaction costs. In 1931, the institutional economist John R. Commons presented the idea that transactions serve as the foundation for economic thinking. Douglass C. North contends that the establishment of institutions, which can be seen as the laws that govern a society, is an essential component in the process of determining transaction costs. When seen in this light, institutions that permit minimal transaction costs contribute to the expansion of the economy. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Transaction cost Chapter 2: Ronald Coase Chapter 3: Environmental economics Chapter 4: Free-rider problem Chapter 5: Externality Chapter 6: Market failure Chapter 7: The Nature of the Firm Chapter 8: Oliver E. Williamson Chapter 9: Coase theorem Chapter 10: Social cost Chapter 11: Theory of the firm Chapter 12: Hold-up problem Chapter 13: Price mechanism Chapter 14: Steven N. S. Cheung Chapter 15: New institutional economics Chapter 16: Market (economics) Chapter 17: Bilateral monopoly Chapter 18: Property rights (economics) Chapter 19: Yoram Barzel Chapter 20: The Problem of Social Cost Chapter 21: Market governance mechanism (II) Answering the public top questions about transaction cost. (III) Real world examples for the usage of transaction cost in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Transaction Cost.
Book Synopsis Transaction Costs, Institutions, and Economic Performance by : Douglass Cecil North
Download or read book Transaction Costs, Institutions, and Economic Performance written by Douglass Cecil North and published by Ics Press. This book was released on 1992 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Transaction Cost Economics and Beyond by : John Groenewegen
Download or read book Transaction Cost Economics and Beyond written by John Groenewegen and published by . This book was released on 1995-12-31 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transaction cost economics (TCE) is at the heart of the new theory of the firm. While it is an established research tradition with a well developed theoretical framework and good empirical results, critics consider TCE too limited to understand the essential characteristics of complex organizations like the firm. The criticism is that we need to go beyond the original TCE framework and develop a more pluralistic approach towards issues of economic organization. This book provides a lively debate on these issues in an open-minded, academic manner. Transaction Cost Economics and Beyond contributes to our further understanding of the theory of the firm and provides a better knowledge of the complexities of economic organization.
Book Synopsis Economic Foundations of Strategy by : Joseph T. Mahoney
Download or read book Economic Foundations of Strategy written by Joseph T. Mahoney and published by SAGE. This book was released on 2005 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theoretical foundations of management strategy are identified and outlined in this text. Five theories are considered in the light of questions about how organisations operate efficiently, cost minimization, wealth creation, individual self-interest, and continued growth.
Download or read book Tomorrow 3.0 written by Michael C. Munger and published by Cambridge University Press. This book was released on 2018-03-22 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: Munger predicts that smartphones will allow the 'transactions cost economy' to commodify excess capacity, promoting sharing instead of owning.m
Book Synopsis Bricolage, Care and Information by : C. Avgerou
Download or read book Bricolage, Care and Information written by C. Avgerou and published by Springer. This book was released on 2009-10-16 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt: Claudio Ciborra was one of the most innovative thinkers in the field of information systems. This book explains the intellectual contribution of Ciborra's work in a substantial introductory chapter, contains the most significant of his articles, and provides a sample of research that draws from his ideas.
Book Synopsis Economics of the Firm by : Michael Dietrich
Download or read book Economics of the Firm written by Michael Dietrich and published by Routledge. This book was released on 2006-11-22 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together some of the world's leading experts to present an interdisciplinary, critical perspective on current issues surrounding the economics of the firms. It eschews standard approaches to the economics of the firm (including analysis of transaction costs) in favour of a more interdisciplinary outlook, with evolutionary economics taken into account. Central to this is the concept of trust and the belief that any approach to the firm must recognize cultural and political factors. The chapters emphasize the themes of change and evolution and explore issues arising from the history and organization of firms. An important book, with contributions from Bart Nooteboom, Stavros Ioannides and Werner Holzl, this is an invaluable resource for postgraduate students of economics.
Book Synopsis Markets and Transaction Costs by : Simon Jantschgi
Download or read book Markets and Transaction Costs written by Simon Jantschgi and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transaction costs are omnipresent in markets yet are often omitted in economic models. We show that their presence can fundamentally alter incentives and welfare in markets in which the price equates supply and demand. We categorize transaction costs into two types. Asymptotically uninfluenceable transaction costs-such as fixed and price fees-preserve the key asymptotic properties of markets without transaction costs, namely strategyproofness, efficiency, and robustness to misspecified beliefs and to aggregate uncertainty. In contrast, influenceable transaction costs - such as spread fees - lead to complex strategic behavior (which we call price guessing) and may result in severe market failure. In our analysis of optimal design we focus on transaction costs that are fees collected by a platform as revenue. We show how optimal design depends on the traders' beliefs. In particular, with common prior beliefs, any asymptotically uninfluenceable fee schedule can be scaled to be optimal, while purely influenceable fee schedules lead to zero revenue. Our insights extend beyond markets equalizing demand and supply.
Book Synopsis How Do Transaction Costs Influence Remittances by : Mr. Kangni R Kpodar
Download or read book How Do Transaction Costs Influence Remittances written by Mr. Kangni R Kpodar and published by International Monetary Fund. This book was released on 2022-11-04 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a new quarterly panel database on remittances (71 countries over the period 2011Q1- 2020Q4), this paper investigates the elasticity of remittances to transaction costs in a high frequency and dynamic setting. It adds to the literature by systematically exploring the heterogeneity in the cost-elasticity of remittances along several country characteristics. The findings suggest that cost reductions have a short-term positive impact on remittances, that dissipates beyond one quarter. According to our estimates, reducing transaction costs to the Sustainable Development Goal target of 3 percent could generate an additional US$32bn in remittances, higher that the direct cost savings from lower transaction costs, thus suggesting an absolute elasticity greater than one. Among remittance cost-mitigation factors, higher competition in the remittance market, a deeper financial sector, and adequate correspondent banking relationships are associated with a lower elasticity of remittance to transaction costs. Similarly, remittance cost-adaptation factors such as enhanced transparency in remittance costs, improved financial literary and higher ICT development coincide with remittances being less sensitive to transaction costs. Supplementing the panel analysis, the use of micro data from the USA-Mexico corridor confirm that migrants facing higher transaction costs tend to remit less, and that this effect is less pronounced for skilled migrants and those that have access to a bank account.
