Toward Behavioral Transaction Cost Economics
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Toward Behavioral Transaction Cost Economics
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Author : George Z. Peng
language : en
Publisher: Springer Nature
Release Date : 2020-10-26
Toward Behavioral Transaction Cost Economics written by George Z. Peng and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-10-26 with Business & Economics categories.
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.
Firms Markets And Hierarchies
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Author : Glenn R. Carroll
language : en
Publisher: Oxford University Press
Release Date : 1999-01-28
Firms Markets And Hierarchies written by Glenn R. Carroll and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-01-28 with Business & Economics categories.
This text presents a stock-taking of the work that has been done since the appearance of Oliver Williamson's seminal book Markets and Hierarchies, which gave new life to the concept of transaction cost analysis.
Flexibility In Buyer Seller Relationships
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Author : Ellen Roemer
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Flexibility In Buyer Seller Relationships written by Ellen Roemer and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Ellen Roemer analyzes the flexibility trade-off in buyer-seller relationships. She investigates how relationships should be managed when there is behavioral and environmental uncertainty.
Handbook Of Behavioral Economics
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Author : Society for the Advancement of Behavioral Economics (U.S.)
language : en
Publisher: Greenwich, Conn. : JAI Press
Release Date : 1991
Handbook Of Behavioral Economics written by Society for the Advancement of Behavioral Economics (U.S.) and has been published by Greenwich, Conn. : JAI Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Business & Economics categories.
Contract Governance And Transaction Cost Economics
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Author : Oliver E Williamson
language : en
Publisher: World Scientific
Release Date : 2017-03-24
Contract Governance And Transaction Cost Economics written by Oliver E Williamson and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-24 with Business & Economics categories.
This book brings together a collection of seven papers on Transaction Cost Economics by Nobel Laureate Professor Oliver E Williamson. The applications of Transaction Cost Economics are extensive, ranging from the field of industrial organization and applied fields of economics such as labor, public finance, comparative economic systems and economic development, to the business fields of strategy, organizational behavior, marketing, finance, operations management, and accounting. In short, as Williamson states, "any problem that originates as or can be reformulated as a contracting problem can be examined to advantage in transaction cost economizing terms." What is referred to as New Institutional Economics is developed in the West in two mainly complementary ways: Property Rights Theory, and Transaction Cost Economics. Of the two, Property Rights Theory developed more rapidly. Transaction Cost Economics has nonetheless taken shape of late. In China, research on New Institutional Economics began in the 1990s and has grown rapidly since. China has similarly given much more attention to Property Rights Theory. Gengxuan Chen, the editor of this volume, recommends that China will benefit by bringing Transaction Cost Economics to bear. Simultaneously, for scholars who study the market economy, Transaction Cost Economics provides a very attractive way to explain the practice of the Chinese market economy.
Transaction Cost
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Author : Fouad Sabry
language : en
Publisher: One Billion Knowledgeable
Release Date : 2024-02-06
Transaction Cost written by Fouad Sabry and has been published by One Billion Knowledgeable this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-02-06 with Business & Economics categories.
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.
The Economics Of Transaction Costs
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Author : P. Rao
language : en
Publisher: Springer
Release Date : 2002-12-03
The Economics Of Transaction Costs written by P. Rao and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-12-03 with Business & Economics categories.
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.
The Transaction Cost Economics Project
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Author : Oliver E. Williamson
language : en
Publisher: Edward Elgar Publishing
Release Date : 2013
The Transaction Cost Economics Project written by Oliver E. Williamson and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Industrial organization (Economic theory). categories.
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.
Advanced Introduction To Behavioral Economics
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Author : John F. Tomer
language : en
Publisher: Edward Elgar Publishing
Release Date : 2017-09-29
Advanced Introduction To Behavioral Economics written by John F. Tomer and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-29 with Economics categories.
Leading researcher John F. Tomer presents an invigorating and concise introduction to behavioral economics that offers essential behavioral theories, perspectives, trends and developments within this ever-evolving discipline.
The Economics Of Transaction Costs
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Author : Oliver E. Williamson
language : en
Publisher: Edward Elgar Publishing
Release Date : 1999
The Economics Of Transaction Costs written by Oliver E. Williamson and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Business & Economics categories.
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.