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Limits of Transaction Cost Analysis

In: The Elgar Companion to Transaction Cost Economics

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  • Geoffrey M. Hodgson

Abstract

Since its emergence in the 1970s, transaction cost economics (TCE) has become a leading approach in the research on contracts, firm organization and strategy, antitrust, marketing, inter-firm collaboration and entrepreneurship. With contributions by leading scholars in economics, law and business administration – including Oliver E. Williamson, recipient of the 2009 Nobel Prize in economics for his development of the transaction cost approach – this volume reviews the latest developments in TCE and applies them to contemporary theoretical and empirical problems.

Suggested Citation

  • Geoffrey M. Hodgson, 2010. "Limits of Transaction Cost Analysis," Chapters, in: Peter G. Klein & Michael E. Sykuta (ed.), The Elgar Companion to Transaction Cost Economics, chapter 28, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:4136_28
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    References listed on IDEAS

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    1. Hodgson, Geoffrey M., 1998. "Competence and contract in the theory of the firm," Journal of Economic Behavior & Organization, Elsevier, vol. 35(2), pages 179-201, April.
    2. Williamson, Oliver E, 1979. "Transaction-Cost Economics: The Governance of Contractural Relations," Journal of Law and Economics, University of Chicago Press, vol. 22(2), pages 233-261, October.
    3. Sidney G. Winter, 1964. "Economic "Natural Selection" and the Theory of the Firm," LEM Chapters Series, in: Yale Economic Essays, pages 225-272, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    4. Oliver E. Williamson, 2000. "The New Institutional Economics: Taking Stock, Looking Ahead," Journal of Economic Literature, American Economic Association, vol. 38(3), pages 595-613, September.
    5. James G. Combs & David J. Ketchen, Jr., 1999. "Explaining interfirm cooperation and performance: toward a reconciliation of predictions from the resource‐based view and organizational economics," Strategic Management Journal, Wiley Blackwell, vol. 20(9), pages 867-888, September.
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    7. Kirk Monteverde, 1995. "Technical Dialog as an Incentive for Vertical Integration in the Semiconductor Industry," Management Science, INFORMS, vol. 41(10), pages 1624-1638, October.
    8. Geoffrey M. Hodgson, 2004. "Opportunism is not the only reason why firms exist: why an explanatory emphasis on opportunism may mislead management strategy," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 13(2), pages 401-418, April.
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    11. Bart Nooteboom, 2004. "Governance and competence: how can they be combined?," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 28(4), pages 505-525, July.
    12. Foss, Nicolai Juul, 1993. "Theories of the Firm: Contractual and Competence Perspectives," Journal of Evolutionary Economics, Springer, vol. 3(2), pages 127-144, May.
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    14. Francesca Gagliardi, 2009. "Financial development and the growth of cooperative firms," Small Business Economics, Springer, vol. 32(2), pages 231-231, February.
    15. Oliver E. Williamson, 1999. "Strategy research: governance and competence perspectives," Strategic Management Journal, Wiley Blackwell, vol. 20(12), pages 1087-1108, December.
    16. Geoffrey M. Hodgson & Thorbjørn Knudsen, 2007. "Firm-Specific Learning and the Nature of the Firm. Why Transaction Costs May Provide an Incomplete Explanation," Revue économique, Presses de Sciences-Po, vol. 58(2), pages 331-350.
    17. Macher, Jeffrey T. & Richman, Barak D., 2008. "Transaction Cost Economics: An Assessment of Empirical Research in the Social Sciences," Business and Politics, Cambridge University Press, vol. 10(1), pages 1-63, April.
    18. Erin Anderson & David C. Schmittlein, 1984. "Integration of the Sales Force: An Empirical Examination," RAND Journal of Economics, The RAND Corporation, vol. 15(3), pages 385-395, Autumn.
    19. Williamson, Oliver E, 1995. "Hierarchies, Markets and Power in the Economy: An Economic Perspective," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 4(1), pages 21-49.
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    21. Francesca Gagliardi, 2009. "Financial development and the growth of cooperative firms," Small Business Economics, Springer, vol. 32(4), pages 439-464, April.
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