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Towards a dynamic theory of transactions

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  • Nooteboom, B.

    (Tilburg University)

Abstract

Standard transaction cost economics (TCE) considers transactions from the perspective of static efficiency. Increasingly, attention is required to dynamic efficiency; to capabilities to exploit transaction relations for innovation. Since innovation is dependent on knowledge and learning, the step from the statics to the dynamics of exchange requires an understanding of the development and acquisition of knowledge, preferences, and meaning, and the role in that of interaction between transaction partners. As a step towards this, the article provides an exploration of theories of knowledge and knowledge development, the relation to language, the role of intersubjective relations, the connection with evolutionary theory and the implications for transaction cost theory.

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Bibliographic Info

Paper provided by Tilburg University in its series Open Access publications from Tilburg University with number urn:nbn:nl:ui:12-372855.

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Date of creation: 1992
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Publication status: Published in Journal of Evolutionary Economics (1992) v.2, p.281-299
Handle: RePEc:ner:tilbur:urn:nbn:nl:ui:12-372855

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Web page: http://www.tilburguniversity.edu/

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Cited by:
  1. Jiang, Marshall S. & Chu, Rongwei & Pan, Yigang, 2011. "Anticipated duration of international joint ventures: A transaction cost perspective," Journal of International Management, Elsevier, vol. 17(2), pages 175-183, June.
  2. Nooteboom, Bart, 1999. "Innovation and inter-firm linkages: new implications for policy," Research Policy, Elsevier, vol. 28(8), pages 793-805, November.
  3. Nooteboom, B. & Vanheverbeke, W.P.M. & Duysters, G.M. & Gilsing, V.A. & Oord van den, A,J,, 2005. "Optimal cognitive distance and absorptive capacity," Working Papers 05.05, Eindhoven Center for Innovation Studies.
  4. Bangens, Lennart & Araujo, Luis, 2002. "The structures and processes of learning. A case study," Journal of Business Research, Elsevier, vol. 55(7), pages 571-581, July.
  5. Kamp, Linda M. & Smits, Ruud E. H. M. & Andriesse, Cornelis D., 2004. "Notions on learning applied to wind turbine development in the Netherlands and Denmark," Energy Policy, Elsevier, vol. 32(14), pages 1625-1637, September.
  6. Gilsing, V.A. & Nooteboom, B. & Haverbeke, W.P.M. van & Duijsters, G.M. & Oord, A., 2008. "Network embeddedness and the exploration of novel technologies: Technological distance, betweenness centrality and density," Open Access publications from Tilburg University urn:nbn:nl:ui:12-3159316, Tilburg University.
  7. Colombo, Massimo G. & Grilli, Luca & Piva, Evila, 2006. "In search of complementary assets: The determinants of alliance formation of high-tech start-ups," Research Policy, Elsevier, vol. 35(8), pages 1166-1199, October.
  8. Witt, Ulrich, 1998. "Imagination and leadership - The neglected dimension of an evolutionary theory of the firm," Journal of Economic Behavior & Organization, Elsevier, vol. 35(2), pages 161-177, April.
  9. Brian J. Loasby, 2001. "Industrial Dynamics Why Connections Matter," DRUID Working Papers 01-09, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
  10. Wuyts, S.H.K. & Colombo, M.G. & Dutta, S. & Nooteboom, B., 2004. "Empirical Tests Of Optimal Cognitive Distance," ERIM Report Series Research in Management ERS-2004-007-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
  11. Costa e Silva, Susana & Bradley, Frank & Sousa, Carlos M.P., 2012. "Empirical test of the trust–performance link in an international alliances context," International Business Review, Elsevier, vol. 21(2), pages 293-306.
  12. Kiss, Bernadett & Neij, Lena, 2011. "The importance of learning when supporting emergent technologies for energy efficiency - A case study on policy intervention for learning for the development of energy efficient windows in Sweden," Energy Policy, Elsevier, vol. 39(10), pages 6514-6524, October.

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