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Transaction Costs Theory and evolutionary approaches: Analysis and Perspectives of a Pluralist Research Program

Author

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  • Huáscar Fialho Pessali
  • Ramón García Fernández

Abstract

Transaction Costs Theory has been considered the “new orthodoxy” of the theory of the firm, and it is also the reason for it has been widely criticized by different schools of economic thought. However, there seems to be signs of complementarity between TCT and evolutionary approaches to the firm. Some alleged interfaces are discussed here, in order to suggest new directions for a research agenda on the theory of the firm, within a pluralistic framework. JEL Classification: B25; D21.

Suggested Citation

  • Huáscar Fialho Pessali & Ramón García Fernández, 2001. "Transaction Costs Theory and evolutionary approaches: Analysis and Perspectives of a Pluralist Research Program," Brazilian Journal of Political Economy, Center of Political Economy, vol. 21(2), pages 286-303.
    • Handle: RePEc:ekm:repojs:v:21:y:2001:i:2:p:286-303:id:977
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/977/962
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    Keywords

    Transaction costs; New Institutional Economics; Schumpeterian analysis; history of economic thought; firm theory;
    All these keywords.

    JEL classification:

    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory

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