Economics, Econometrics and Finance
4 years ago

Firms Optimize Transactions to Boost Efficiency and Profits

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Transaction Cost Economics: How it Works; Where it is Headed
Oliver E. Williamson

Paper Summary

The article discusses how transaction cost economics is used to study governance by aligning transactions based on cost and competence. It addresses various issues like human agents, firms, and scaling up, and explains how transaction cost economics is implemented. The research shows applications in public bureaus, strategic management, and intractable transactions.

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