Transaction Cost Economics: An Introduction
AbstractThis overview of transaction cost economics is organized around the "Carnegie Triple" – be disciplined; be interdisciplinary; have an active mind. The first of these urges those who would open up the black box of economic organization to do so in a modest, slow, molecular, definitive way, with the object of deriving refutable implications and submitting these to empirical testing. The second recommends that the student of economic organization be prepared to cross disciplinary boundaries if and as this is needed to preserve veridical contact with the phenomena. The injunction have an active mind is implemented by being curious and asking the question "What is going on here?" The paper concludes with a discussion of operationalization. --
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Bibliographic InfoPaper provided by Kiel Institute for the World Economy in its series Economics Discussion Papers with number 2007-3.
Date of creation: 2007
Date of revision:
Find related papers by JEL classification:
- D2 - Microeconomics - - Production and Organizations
- D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
- D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law
- L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-05-19 (All new papers)
- NEP-BEC-2007-05-19 (Business Economics)
- NEP-CBE-2007-05-19 (Cognitive & Behavioural Economics)
- NEP-HPE-2007-05-19 (History & Philosophy of Economics)
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