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Mapping the Third Sector in John R. Commons' Typology of Transactions

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  • Vladislav Valentinov

Abstract

While John R. Commons often referred to third sector organizations, such as associations, cooperatives, and trade unions, it is unclear how these organizations can be fitted into his transactional typology. This paper clarifies this problem by identifying two dimensions of bargaining, managerial, and rationing transactions: 1) the extent of legal equality of transactional participants, and 2) the extent of commonness of these participants' transactional interests. These dimensions enable defining the identity of the third sector in terms of a distinct variety of rationing transactions combining legal equality of transactional participants with significant commonness of their interests. The paper further explores several implications of this argument for new institutional economics, concerning the citizenship aspect of markets and hierarchies and the possibility of viewing third sector organizations as hybrids between markets and hierarchies. The paper concludes with a discussion of the implications for further research.

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  • Vladislav Valentinov, 2009. "Mapping the Third Sector in John R. Commons' Typology of Transactions," Journal of Economic Issues, Taylor & Francis Journals, vol. 43(4), pages 917-930.
    • Handle: RePEc:mes:jeciss:v:43:y:2009:i:4:p:917-930
    DOI: 10.2753/JEI0021-3624430405
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    Cited by:

    1. Tortia, Ermanno C., 2021. "Employment protection regimes and dismissal of members in worker cooperatives," MPRA Paper 109214, University Library of Munich, Germany.
    2. Chatalova, Lioudmila & Djanibekov, Nodir & Gagalyuk, Taras & Valentinov, Vladislav, 2017. "The paradox of water management projects in Central Asia: An institutionalist perspective," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 9(4), pages 1-14.
    3. Valentinov, Vladislav, 2011. "Third sector organizations in rural development: Reply," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 20(1), pages 117-118.
    4. Marie Dervillé, 2023. "Institutional insights into the adaptation capacities of sectoral communities: evidence from the restructuring of the dairy sectors in France and Germany," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 71(1), pages 61-91, August.

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