In interfirm exchanges such as contracts, transaction cost economics theory (TCE) argues asset specificity, critical for value creation, poses hazards requiring contractual safeguards. TCE assumes actors have foresight to mitigate these even though specificity is typically hard observe, suggesting managers’ impressions may be biased. Taking a microfoundational approach, we explore how individua...

This study aims to analyze the effect of transaction costs on selection marketing channels by Gayo Arabica coffee farmers in Central Aceh and Bener Meriah districts. uses a cost economics approach (TCE) explain choice between cooperatives collectors exporters' traders. Identification variables that affect channel Tengah districts using probit model with E-Views 7.0 software. The results show fa...

This paper presents the results of research conducted to identify factors that influence decisions company management outsource accounting services. A transaction cost economics (TCE) model was used analyse high levels outsourcing tasks in case Montenegro, where, based on our sample, 75.4% companies enter arrangements with bookkeeping agencies or external accountants. With an adaptation Interna...

transaction cost economics (williamson, 1985) is a theory of the firm in new institutional economics that has been applied for analysing economic transaction; especially, make-or-buy decisions or vertical mergers in firms. the contribution of this paper is applying this theory for a political issue that is party formation. transaction cost economics links the party formation to the transaction ...

This survey sketches the broad landscape of the field of transaction costs measurement. It surveys the main research areas concerning transaction costs and offers a taxonomy: monetary and financial economics, Williamsonian transaction cost economics, the transaction sector, non-market transaction costs, environmental and ecological economics, institutions and economic growth, and the economics ...

a r t i c l e i n f o This study applies a transaction cost economics (TCE) framework to examine how economic agents adopt gover-nance strategies in Brazil's recently renovated electricity market. In light of a well-established TCE model, four attributes of transactions (i.e., asset-specificity, uncertainty, complexity, and frequency) are examined for three unregulated transactions between gene...

This paper extends earlier work in the use of 'Agent-based Computational Economics' (ACE) for modelling the development of cooperation between firms. Inter-firm relations have increasingly been analyzed by means of transaction cost economics (TCE). However, as has been widely acknowledged, TCE does not include any dynamics of learning, adaptation or innovation, and it does not include trust. It...