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Racionalidad y cooperación entre firmas. Examen del comportamiento habitual de las industrias griegas

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Author Info

  • Michel S. Zouboulakis

    ()
    (Universidad de Tesalia)

  • John Kamarianos

    (Universidad de Patras)

Abstract

The aim of this empirical research was to test the influence of some social factors such as social norms, habits and routines, which are actually constraining the entrepreneurial strategy. In order to measure the extent of these influences we have focused on informal arrangements and cooperation between firms, including informal relations, trust links, family links etc. Firms having long term informal relations benefit from lower costs of making transactions enforceable, including the costs of information and planning, and furthermore protect themselves from the hazards of opportunism. In doing so, firms do cooperate consciously adopting patterns of behaviour that largely exceed market arrangements. This is true not only for non-competing firms (i.e. firms with client-customer relations) who have developed in that direction a nexus of diverse long-term strategies, but also for competing firms producing identical goods.

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File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/mzouboulakis7.pdf
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Bibliographic Info

Article provided by Universidad Externado de Colombia - Facultad de Economía in its journal Revista de Economía Institucional.

Volume (Year): 4 (2002)
Issue (Month): 7 (July-December)
Pages: 98-113

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Handle: RePEc:rei:ecoins:v:4:y:2002:i:7:p:98-113

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Related research

Keywords: rationality; cooperation; trust; informal relations; transaction costs; opportunism; competitive firms; non competitive firms;

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  1. Samuel Bowles, 1998. "Endogenous Preferences: The Cultural Consequences of Markets and Other Economic Institutions," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 75-111, March.
  2. John Conlisk, 1996. "Why Bounded Rationality?," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 669-700, June.
  3. Coase, R H, 1988. "The Nature of the Firm: Origin," Journal of Law, Economics and Organization, Oxford University Press, vol. 4(1), pages 3-17, Spring.
  4. Casson Mark, 1993. "Cultural Determinants of Economic Performance," Journal of Comparative Economics, Elsevier, vol. 17(2), pages 418-442, June.
  5. Menard, Claude, 1995. "Markets as institutions versus organizations as markets? Disentangling some fundamental concepts," Journal of Economic Behavior & Organization, Elsevier, vol. 28(2), pages 161-182, October.
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  7. Ingham, Geoffrey, 1996. "Some Recent Changes in the Relationship between Economics and Sociology," Cambridge Journal of Economics, Oxford University Press, vol. 20(2), pages 243-75, March.
  8. Williamson, Oliver E., 1992. "Markets, hierarchies, and the modern corporation: An unfolding perspective," Journal of Economic Behavior & Organization, Elsevier, vol. 17(3), pages 335-352, May.
  9. Arrow, Kenneth J, 1994. "Methodological Individualism and Social Knowledge," American Economic Review, American Economic Association, vol. 84(2), pages 1-9, May.
  10. Coase, R H, 1992. "The Institutional Structure of Production," American Economic Review, American Economic Association, vol. 82(4), pages 713-19, September.
  11. Vriend, Nicolaas J., 1996. "Rational behavior and economic theory," Journal of Economic Behavior & Organization, Elsevier, vol. 29(2), pages 263-285, March.
  12. Hodgson, Geoffrey M, 1997. "The Ubiquity of Habits and Rules," Cambridge Journal of Economics, Oxford University Press, vol. 21(6), pages 663-84, November.
  13. Samuels, Warren J, 1995. "The Present State of Institutional Economics," Cambridge Journal of Economics, Oxford University Press, vol. 19(4), pages 569-90, August.
  14. Lyons, Bruce R, 1994. "Contracts and Specific Investment: An Empirical Test of Transaction Cost Theory," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 3(2), pages 257-78, Summer.
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