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A New Approach In Economics: Transaction Costs Theory

Author

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  • Iacobuta Andreea-Oana

    () (Universitatea , Facultatea de Economie si Administrarea Afacerilor)

Abstract

Ronald Coase article from 1937, The Nature of the Firm, meant a new way of thinking and conceiving of the world, especially of economic organisations. Coase argued that the firm and the market represent two alternative ways to organise the same transactio

Suggested Citation

  • Iacobuta Andreea-Oana, 2009. "A New Approach In Economics: Transaction Costs Theory," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 2(1), pages 370-375, May.
  • Handle: RePEc:ora:journl:v:2:y:2009:i:1:p:370-375
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    File URL: http://steconomice.uoradea.ro/anale/volume/2009/v2-economy-and-business-administration/62.pdf
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    References listed on IDEAS

    as
    1. Williamson, Oliver, 2009. "The Theory of the Firm as Governance Structure: From Choice to Contract," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 6, pages 111-134, December.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    transaction costs; bounded rationality; opportunism; asset specificity; governance;

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure

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