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Book Synopsis Law and Transaction Costs in the Ancient Economy by : Dennis P. Kehoe
Download or read book Law and Transaction Costs in the Ancient Economy written by Dennis P. Kehoe and published by University of Michigan Press. This book was released on 2015-11-11 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: A critical element of economic performance from antiquity to the present
Book Synopsis The Economics of Transaction Costs by : Oliver E. Williamson
Download or read book The Economics of Transaction Costs written by Oliver E. Williamson and published by Edward Elgar Publishing. This book was released on 1999 with total page 572 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transaction cost economics began to take shape around 1970 and has since been established as an essential tool used to illuminate a wide range of problems in economics and other social sciences. This reader presents articles which together form the foundations of research in transaction cost economics.
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 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.
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 The Economics of Transaction Costs by : P. Rao
Download or read book The Economics of Transaction Costs written by P. Rao and published by Springer. This book was released on 2002-12-03 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: In modern economies a substantial proportion of resources is increasingly allocated to transaction costs. An improvement in the definition of transaction costs to include both the information role and efficiency role requires an integration of the approaches of positive economics and normative economics. In The Economics of Transaction Costs P.K.Rao provides a comprehensive analytical treatment of the subject and suggests a few directions for formal economic models.
Book Synopsis Transaction Cost Economics by : Claude Ménard
Download or read book Transaction Cost Economics written by Claude Ménard and published by . This book was released on 1997 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
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 The Making of Economic Policy by : Avinash K. Dixit
Download or read book The Making of Economic Policy written by Avinash K. Dixit and published by MIT Press. This book was released on 1998-09-01 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Making of Economic Policy begins by observing that most countries' trade policies are so blatantly contrary to all the prescriptions of the economist that there is no way to understand this discrepancy except by delving into the politics. The same is true for many other dimensions of economic policy. Avinash Dixit looks for an improved understanding of the politics of economic policy-making from a transaction cost perspective. Such costs of planning, implementing, and monitoring an exchange have proved critical to explaining many phenomena in industrial organization. Dixit discusses the variety of similar transaction costs encountered in the political process of making economic policy and how these costs affect the operation of different institutions and policies. Dixit organizes a burgeoning body of research in political economy in this framework. He uses U.S. fiscal policy and the General Agreement on Tariffs and Trade (GATT) as two examples that illustrate the framework, and show how policy often deviates from the economist's ideal of efficiency. The approach reveals, however, that some seemingly inefficient practices are quite creditable attempts to cope with transaction costs such as opportunism and asymmetric information. Copublished with the Center for Economic Studies and the Ifo Institute
Book Synopsis Firms, Markets and Hierarchies by : Glenn R. Carroll
Download or read book Firms, Markets and Hierarchies written by Glenn R. Carroll and published by Oxford University Press. This book was released on 1999-01-28 with total page 561 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
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.
Book Synopsis The Elgar Companion to Transaction Cost Economics by : Peter G. Klein
Download or read book The Elgar Companion to Transaction Cost Economics written by Peter G. Klein and published by Edward Elgar Pub. This book was released on 2010 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Not too long ago it was possible to be familiar with all of the important works and latest developments in transaction cost economics. That that is no longer the case is a testament to the intellectual appeal and empirical success of the transaction cost approach. for newcomers, the entries in this volume, by some of TCE's most knowledgeable and eloquent contributors, offer an excellent introduction to the issues, methods, discoveries, and debates in the field; for veterans, the volume provides a highly valuable resource for catching up on the newest research.' - Scott E. Masten, University of Michigan School of Business, US
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 Managing Transaction Costs in the Era of Globalization by : F. A. G. den Butter
Download or read book Managing Transaction Costs in the Era of Globalization written by F. A. G. den Butter and published by Edward Elgar Publishing. This book was released on 2012 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely book presents practical applications of modern economic theories to trade, transaction costs and institutions within both business and governmental realms. Frank A.G. den Butter explains the importance and means of keeping transaction costs as low as possible. He illustrates how this transaction management can contribute to making firms and nations more competitive by exploiting gains from the division of labour and international fragmentation of production, and uses relevant case studies to illustrate how value is created by reducing transaction costs. Policy recommendations for strengthening the competitive position of trading nations and reducing implementation costs of government policy are presented, and management methods for creating value in organizing production on a global scale are prescribed. A wide-ranging audience encompassing economists in academia, government and business; managers in industry and government; and students of economics, business and globalization will find this book to be a crucial reference tool.
Book Synopsis Transaction Cost Approach to Component Make-or-buy Decisions by : Gordon Walker
Download or read book Transaction Cost Approach to Component Make-or-buy Decisions written by Gordon Walker and published by . This book was released on 1983 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
