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Modeling Relational Transactions

In: The Relational View of Economics

Author

Listed:
  • Josef Wieland

    (Zeppelin University)

  • Albrecht Müller

    (Parmenides Foundation)

  • Andrej Nikonov

    (Cognostics AG)

  • Leonhard Teichert

    (Cognostics AG)

  • Sebastian Lehrack

    (Cognostics AG)

  • Lukas Törner

    (Zeppelin University)

Abstract

This paper proposes an actor-based approach to model relational transactions. The text entails a brief summary of the essential concepts of relational economics. The concepts of “resources of cooperation” and “cooperation corridor” are specified. Next, the study offers a guideline to model relational transactions in an n-dimensional vector space and describes the modeling of the emergence of transactions by focusing on multiple decision logics and an actor’s context. The results of this investigation show relational economics can benefit from using actor-based approaches. Modeling a network of relational transactions is strong in showing cooperative value creation. Future research may apply this model to structure formation and the analysis of strategic choice. The second major finding is that this way with multi-dimensional accounting data polycontextural, global economic clusters and organizational, strategic learning processes can be researched.

Suggested Citation

  • Josef Wieland & Albrecht Müller & Andrej Nikonov & Leonhard Teichert & Sebastian Lehrack & Lukas Törner, 2022. "Modeling Relational Transactions," Relational Economics and Organization Governance, in: Lucio Biggiero & Derick de Jongh & Birger Priddat & Josef Wieland & Adrian Zicari & Dominik Fischer (ed.), The Relational View of Economics, pages 75-94, Springer.
    • Handle: RePEc:spr:recchp:978-3-030-86526-9_5
    DOI: 10.1007/978-3-030-86526-9_5
    as

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