The views presented here have greatly benefited from discussions with the participants at the The insightful and thorough (albeit, in our view, somehow "imperialist") comparative discussion by Oliver Williamson of the governance and competence views of economic organisations (Williamson, 1999a) as well as the daring "counter-reformation manifesto" by Foss and Foss, trying to re-interpret most v...

Complex computer games, especially massively multiplayer online games, contain narrative and mechanisms that mimic real economic activities, such as production, trade, and consumption. This has prompted some scholars to apply concepts and techniques from economics to study the complicated interactions inside games worlds. In this paper I review their work, attempt to argue why the approach has ...

abstract a quantitative framework of combination of liner programming and cooperative game theory was used in this study to analyze and model cooperative contracts in production based on rural households' resources cooperation in firoozabad plain. revenues and costs in cooperation game theory have important rule to get agreement. transaction cost function was used in cooperative costs accountin...

Contracting frictions affect the organization of firms, but how much does this matter on the aggregate level? This paper studies how costly supplier contract enforcement shapes the patterns of intermediate input use and quantifies the impact of these distortions on aggregate productivity and welfare. Using the frequency of litigation between US firms to measure the potential for hold-up problem...

Transaction costs” are commonly referred to in the recent literature on aid effectiveness. The shift to a new partnership aid paradigm (cf. the Paris Agenda) is grounded on the desire to render aid more effective, notably through reducing the high transaction costs generated by the project approach. Aid transaction costs, however, have neither been consistently defined nor measured. In this pap...

IS discipline has seen a large and growing body of research on IT sourcing, with economic theories informing a large portion of this work. The paper examines use of Transaction Cost Economics (TCE) as a theoretical lens to study IT sourcing decision (internal vs. external). It reviews TCE’s major assumptions, and assesses key constructs of frequency, asset specificity, opportunism, and uncertai...

Following to the publication in 1937 of the famous paper by Ronald Coase, who in 1991 won the Nobel Prize in Economics for the introduction of transaction costs, numerous contributions appeared in the related literature. Nowadays transaction costs are universally accepted, but researchers in the field agree on the difficulty in measuring and quantifying them. Motivated by such a research gap, t...