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Journal articles on the topic 'Transaction cost economics theory'

Author: Grafiati

Published: 4 June 2021

Last updated: 26 July 2025

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1

Frolov, D. P. "From transaction costs to transaction value: Overcoming the frictional paradigm." Voprosy Ekonomiki, no. 8 (August 3, 2020): 51–81. http://dx.doi.org/10.32609/0042-8736-2020-8-51-81.

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The transaction cost economics has accumulated a mass of dogmatic concepts and assertions that have acquired high stability under the influence of path dependence. These include the dogma about transaction costs as frictions, the dogma about the unproductiveness of transactions as a generator of losses, “Stigler—Coase” theorem and the logic of transaction cost minimization, and also the dogma about the priority of institutions providing low-cost transactions. The listed dogmas underlie the prevailing tradition of transactional analysis the frictional paradigm — which, in turn, is the foundatio

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WILLIAMSON, OLIVER E. "Transaction Cost Economics and Organization Theory." Industrial and Corporate Change 2, no. 1 (1993): 107–56. http://dx.doi.org/10.1093/icc/2.1.107.

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WILLIAMSON, OLIVER E. "Transaction Cost Economics and Organization Theory." Industrial and Corporate Change 2, no. 2 (1993): 107–56. http://dx.doi.org/10.1093/icc/2.2.107.

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Whan G. Kwon, Ik, and Sung Ho Kim. "Relationship Between Economics of Trust and Transaction Cost: A Brief Exposition." International Journal of Business & Management Studies 05, no. 02 (2024): 7–11. http://dx.doi.org/10.56734/ijbms.v5n2a2.

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Survival of enterprise to some degree depends on how to manage transaction cost. It is more so in a highly competitive market with competitive products such as technology-based products. In economics, the theory of transaction costs is based on the assumption that people are influenced by competitive self-interest. Transaction cost economy which was developed by Williamson (1981) is based on uncertainty and unpredictability in the world. Asset specificity, organizations that enter into transactions find it expensive to leave them, inherent opportunistic behavior of individuals in an economic t

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See Un, Ryu. "Transaction Behavior in Nonmarket Settings: Revisiting Transaction Cost Economics Theory." Korean Journal of Policy Studies 27, no. 1 (2012): 23–40. http://dx.doi.org/10.52372/kjps27102.

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This study focuses on changes in transaction costs over time in nonmarket settings. Traditional Williamsonian transaction cost economics theory shows little concern with time. However, this study reveals that time is a crucial factor in the fluctuation of transaction costs in nonmarket settings: Transaction costs increase in the initial and middle phases of a transaction. But in the long term, they may increase or decrease and are affected considerably by whether the rules, procedures, and protocols governing the transaction are effective ("green tape") or ineffective ("red tape"). In contrast

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Hsieh, Ching-Tang, Hao-Chen Huang, and Wei-Long Lee. "Using transaction cost economics to explain open innovation in start-ups." Management Decision 54, no. 9 (2016): 2133–56. http://dx.doi.org/10.1108/md-01-2016-0012.

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Purpose The basic concept of transaction cost theory is that firms like to conduct transactions in a channel with lower transaction costs. Therefore, the purpose of this paper is to use the transaction cost perspective to identify which conditions cause companies to choose between outbound open innovation (hierarchy governance) and inbound open innovation (market governance). Design/methodology/approach Accordingly, transaction cost economics was used to relate the choice and implementation of open innovation using a sample of 250 electronics and information start-ups in China. Structural equa

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Saussier, Stéphane. "Transaction Cost Economics and Contract Duration: An Empirical Analysis of EDF Coal Contracts." Recherches économiques de Louvain 65, no. 1 (1999): 3–21. http://dx.doi.org/10.1017/s0770451800007703.

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SummaryThis paper studies duration of inter-firm contracts in a transaction cost perspective. The aim of the paper is to test the propositions that can be derived from a transaction-cost framework. We built a non-truncated database representing the entire contractual relationships of Electricité de France (EDF) with its coal carriers and coal unloaders over the period 1977–1997. Section I explores factors that can explain the choice of contract duration. Section II describes the relationships between EDF and its suppliers. In Section III, we test and confirm most propositions derived from tran

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Ketokivi, Mikko, and Joseph T. Mahoney. "Transaction Cost Economics As a Constructive Stakeholder Theory." Academy of Management Learning & Education 15, no. 1 (2016): 123–38. http://dx.doi.org/10.5465/amle.2015.0133.

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Spraakman, Gary. "Transaction cost economics: a theory for internal audit?" Managerial Auditing Journal 12, no. 7 (1997): 323–30. http://dx.doi.org/10.1108/02686909710180670.

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Noorderhaven, Niels. "The Argumentational Texture of Transaction Cost Economics." Organization Studies 16, no. 4 (1995): 605–23. http://dx.doi.org/10.1177/017084069501600407.

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The deconstruction method was used to analyze a seminal text in transaction cost economics, viz., Oliver Williamson's Economic Institutions of Capitalism. This deconstructive reading revealed that the assumption of opportunism that gives rise to the problem of economic organization as formulated by William son also tends to undermine the proposed solution to this problem. The plausi bility of unified governance as a solution to the problem of opportunism in transaction relations with asset specificity is shown to hinge on the temporary deferment of the assumption of opportunism. Thus, transact

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Hoang, Dung Phuong, and Thong Huy Vu. "A transaction cost explanation of the card-or-cash decision among Vietnamese debit card holders." International Journal of Bank Marketing 38, no. 7 (2020): 1635–64. http://dx.doi.org/10.1108/ijbm-05-2019-0191.

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PurposeThis research provides a new perspective in explaining cardholders' willingness to use debit cards instead of cash by applying the transaction costs economic theory. This study also expands the adaptation of transaction cost economics theory in explaining consumer behaviour by investigating the moderating effects of income and education level on the relationship between perceived transaction costs and willingness to use debit cards.Design/methodology/approachThe conceptual framework was developed primarily from the transaction cost economics theory. An in-depth interview method was empl

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Bandara, S. M. S. Palitha, G. C. Samaraweera, and T. S. L. W. Gunawardana. "The Journey from the Industrial Revolution to the Digital World: Evolution of Transaction Cost Economics." Colombo Business Journal 16, no. 1 (2025): 1–22. https://doi.org/10.4038/cbj.v16i1.201.

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Around eighty-five years ago, the concept of transaction cost was introduced by Coase, and in the early 1980s, transaction cost theory became a part of the new institutional economics research due to the incorporation of cognitive psychology into decision-making. The reach of the digital revolution creates new forms of economic organization that urge the widening of the boundaries of transaction cost theory. Therefore, this review aims to explore the contextual evolution of the concept of transaction cost from the Industrial Revolution to the Digital World. In addition, this review highlights

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Shastitko, Andrey, and Natalia Pavlova. "Mediation through the Lens of Transaction Cost Economics: Subject Field and Policy Implications." Issues of Economic Theory 27, no. 2 (2025): 07–21. https://doi.org/10.52342/2587-7666vte_2025_2_7_21.

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Based on the application of the conceptual core of the economic theory of transaction costs, an explanation is offered of the grounds and possibilities of using mediation in economic disputes as a way to ensure the stability of contracts and continuity of transactions in value chains. The place of mediation among alternative mechanisms of transaction management in the spectrum between the hierarchical and market mechanisms is explained using the conceptual schemes of O. Williamson and C. Menard. The paper shows how mediation differs from involving a third party in transactions and why mediatio

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Verbeke, Alain, and Liena Kano. "The transaction cost economics (TCE) theory of trading favors." Asia Pacific Journal of Management 30, no. 2 (2012): 409–31. http://dx.doi.org/10.1007/s10490-012-9324-6.

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KAN, STEVEN S. "ENTREPRENEURSHIP, TRANSACTION COSTS, AND SUBJECTIVIST ECONOMICS." Journal of Enterprising Culture 01, no. 02 (1993): 159–82. http://dx.doi.org/10.1142/s0218495893000099.

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While researches along the lines of Austrian, Buchanan, and Coase’s teachings are thriving recently, they are not united. We show that conceptions of entrepreneurship and transaction costs are generally ambiguous regarding important exchange relationships because they are limited to the consideration of one-sided individual choices only. It is argued in the paper that the completion of an exchange necessarily involves at least two individuals acting in the role of the entrepreneur. In addition, transaction costs are subjective and cannot be treated as production or transportation costs. The pa

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Garfamy, Reza Mohammady. "Supply Management: A Transaction Cost Economics Framework." South East European Journal of Economics and Business 7, no. 2 (2012): 139–47. http://dx.doi.org/10.2478/v10033-012-0022-6.

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Abstract Transaction Cost Economics (TCE) is an economic theory that provides an analytical framework for investigating the governance structure of contractual relations within a supply chain. The purpose of this paper is to examine existing research in an effort to understand the potential effects of transaction costs on the vertical coordination of a supply chain. The paper arrives at many insights into how supply chains are organized under different governance structures. These insights can certainly be shared via the development and introduction of related propositions. The conceptual typo

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Saravia Matus, Jimmy A., and Silvia Saravia-Matus. "Corporate governance and transaction cost economics: A study of the equity governance structure." Corporate Board role duties and composition 12, no. 1 (2016): 33–44. http://dx.doi.org/10.22495/cbv12i1art4.

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This paper extends the Transaction Cost Economics (TCE) theory of the equity governance structure by introducing a (hitherto absent) full analysis of the key TCE issue of bilateral dependency between the firm and its shareholders. In addition, the paper discusses the implications of the analysis for the topic of corporate governance and firm performance. We find that when bilateral dependency holds contractual hazards are mitigated as predicted by TCE, but that when it does not contractual safeguards are altered to the disadvantage of shareholders and managerial discretion costs increase as re

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Miah, Mohammad Dulal, Mohammed Usman, and Yasushi Suzuki. "Economic Considerations of Legal Delimitation: Evidence from Judicial Verdicts in Bangladesh Courts." Jurnal Institutions and Economies 13, no. 3 (2021): 115–35. http://dx.doi.org/10.22452/ijie.vol13no3.5.

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The literature on law and economics argues that economic considerations have an important implication for consistent and efficient legal practices. In line with this tradition, this paper aims to analyse legal verdicts through the lens of transaction cost to ascertain if judicial decision takes social cost into account. In so doing, the research draws upon the literature of transaction cost theory, which examines the implications of transaction cost for legal verdicts. Data for the analysis consist of legal verdicts collected from Bangladesh. The paper shows that judicial decisions are influen

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Davis, Lewis S. "Toward a Unified Transaction Cost Theory of Economic Organization." Journal of Institutional and Theoretical Economics 159, no. 3 (2003): 571. http://dx.doi.org/10.1628/0932456032954701.

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Zhang, Lin. "Comparative Corporate Governance and Transaction Costs: Implications for China." Business Law Review 40, Issue 5 (2019): 186–93. http://dx.doi.org/10.54648/bula2019025.

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Comparative study is significant for the reform of corporate governance in transitional economies like China. Influenced by the Berle- Means problem, this kind of study is usually under the auspices of the agency theory. However, besides the agency theory, another important theoretical framework to examine corporate governance is transaction cost economics. Based on transaction cost economics, it demonstrates that the governance structure of Japanese vertical keiretsu may promote the enforcement of relational contract other than the function to monitor the performance of managers. This underst

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Fink, R. C. "Transaction cost economics, resource dependence theory, and customer-supplier relationships." Industrial and Corporate Change 15, no. 3 (2006): 497–529. http://dx.doi.org/10.1093/icc/dtl008.

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Ketokivi, Mikko, and Joseph T. Mahoney. "Transaction Cost Economics As a Theory of Supply Chain Efficiency." Production and Operations Management 29, no. 4 (2020): 1011–31. http://dx.doi.org/10.1111/poms.13148.

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Yuan, Dinghuan, Yung Yau, Wenyi Lin, and Jianxin Cheng. "An Analysis of Transaction Costs Involved in the Urban Village Redevelopment Process in China." Buildings 12, no. 5 (2022): 692. http://dx.doi.org/10.3390/buildings12050692.

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A well-designed institutional arrangement for urban village redevelopment projects (UVRPs) must consider transaction costs, but academic papers discussing it from the perspective of transaction cost economics are lacking. This paper applies theory of transaction cost economics to analyse the types and sizes of transaction costs and who bears these costs during redevelopment when implementing UVRPs in China. This paper finds that transactions in UVRPs have high asset specificity, high uncertainty and low frequency, which easily results in high levels of transaction costs. Based on 439 UVRPs col

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Mroczek, Katarzyna. "Transaction cost theory - explaining entry mode choices." Economics and Business Review 14, no. 1 (2014): 48–62. http://dx.doi.org/10.18559/ebr.2014.1.825.

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Foreign entry mode is one of the most crucial decisions companies have to make while determining their internationalisation strategy. In this study we attempt to review the determinism of these decisions by examining some concepts applied. Special consideration is given to transaction cost theory which is known to be the most frequently used tool in this field. The aim of this paper is therefore to revise and answer Shaver&apos;s [2013] recent question, whether we still need more entry mode studies and if yes, what exactly should be studied?(original abstract)

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Lemanowicz, Marzena. "THEORY OF CONTRACTS IN THE LIGHT OF NEW INSTITUTIONAL ECONOMICS. THE SPECIFICITY OF AGRICULTURAL CONTRACTS." Acta Scientiarum Polonorum. Oeconomia 17, no. 4 (2018): 97–104. http://dx.doi.org/10.22630/aspe.2018.17.4.56.

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The article reviews Polish and foreign economic literature regarding new institutional economics (NIE) and various research approaches used in the framework of NIE. Particular attention was paid to the economic theory of contracts and the transaction costs, as the limitation of transaction costs is indeed the main stimulus for contract signing. Special attention was given to agricultural contracts and their specificity. The article discusses different theories applied in the analysis of contracts, characterizes contracts according to different criteria, and draws attention to the importance of

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VALENTINOV, VLADISLAV. "Why are cooperatives important in agriculture? An organizational economics perspective." Journal of Institutional Economics 3, no. 1 (2007): 55–69. http://dx.doi.org/10.1017/s1744137406000555.

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Abstract:This paper develops an organizational economics explanation for agricultural cooperatives by building upon the transaction cost theory of family farms. According to this theory, the importance of family farms in Western agriculture is a result of the low feasibility of hierarchical organization in agricultural production due to supervision and monitoring difficulties. This paper argues that the transaction cost-economizing effect of family farms has a price in the form of their limited ability to realize economies of scale and to develop market power comparable to that of their up- an

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Horsch, Andreas, Enrico Seidel, and Anja Eickstädt. "Potentials and Limitations of Smart Contracts: A Primer from an Economic Point of View." European Business Law Review 31, Issue 1 (2020): 169–83. http://dx.doi.org/10.54648/eulr2020007.

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Smart contracts are an innovative contract type best described as digital and decentralized agreements which are stored on a blockchain. The automatisms included in blockchain-based smart contracts as well as their transparency and irreversibility contribute to their increasing popularity and made proponents of smart contracts suggest that they will replace traditional written contracts and become the (only) contract type in the long run. However, seminal problems prevail, including technical, legal, and also economic questions. This paper addresses the latter: Using theoretical approaches of

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Martinez, Richard J., and M. Tina Dacin. "Efficiency Motives and Normative Forces: Combining Transactions Costs and Institutional Logic." Journal of Management 25, no. 1 (1999): 75–96. http://dx.doi.org/10.1177/014920639902500104.

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This paper provides a synthesis of transaction cost economics and institutional theory. It reviews each of these approaches and provides suggestions on how these perspectives might be broadened via this synthesis. It presents an illustrative model of organization theorizing that combines relevant aspects of transaction cost theory and institutional theory in order to strengthen the explanatory power of both. The model explores conditions under which one or both theories may be most appropriate in explaining decision behavior, focusing on two important situational factors--the degree of ambigui

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Darabi, Hassan, and Danon Jalali. "Illuminating the formal–informal dichotomy in land development on the basis of transaction cost theory." Planning Theory 18, no. 1 (2018): 100–121. http://dx.doi.org/10.1177/1473095218779111.

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Transaction cost theory is largely used to investigate the formal domain of land and housing. In the informal domain, however, this perspective has been employed largely as a supplement in addressing the other fundamental notion in new institutional economics—property rights—despite the possibility that informality in land development can emerge regardless of the informality or formality of such rights. To cover this gap, this study developed a theoretical framework based on transaction cost theory to explain the formal–informal dichotomy in land development. The proposed framework maintains t

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Remneland-Wikhamn, Björn, and David Knights. "Transaction Cost Economics and Open Innovation: Implications for Theory and Practice." Creativity and Innovation Management 21, no. 3 (2012): 277–89. http://dx.doi.org/10.1111/j.1467-8691.2012.00639.x.

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Stiles, Renée A., Stephen S. Mick, and Christopher G. Wise. "The Logic of Transaction Cost Economics in Health Care Organization Theory." Health Care Management Review 26, no. 2 (2001): 85–92. http://dx.doi.org/10.1097/00004010-200104000-00010.

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WALKER, ANTHONY, and CHAU KWONG WING. "The relationship between construction project management theory and transaction cost economics." Engineering, Construction and Architectural Management 6, no. 2 (1999): 166–76. http://dx.doi.org/10.1108/eb021109.

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Horaguchi, Haruo, and Brian Toyne. "Setting the Record Straight: Hymer, Internationalization Theory and Transaction Cost Economics." Journal of International Business Studies 21, no. 3 (1990): 487–94. http://dx.doi.org/10.1057/palgrave.jibs.8490830.

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Tsang, Eric W. K. "Behavioral assumptions and theory development: the case of transaction cost economics." Strategic Management Journal 27, no. 11 (2006): 999–1011. http://dx.doi.org/10.1002/smj.553.

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Cordelia, Antonio. "Transaction Costs and Information Systems: Does IT Add Up?" Journal of Information Technology 21, no. 3 (2006): 195–202. http://dx.doi.org/10.1057/palgrave.jit.2000066.

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Transaction cost theory has often been used to support the use of information and communication technology (ICT) to reduce imperfection in the economic system. Electronic markets and hierarchies have repeatedly been described as solutions to inefficiencies in the organisation of transactions in complex and uncertain settings. Far from criticising this assumption, this paper highlights the limits associated with this application of transaction cost theory that has been prevalent in IS research. Building on the concepts first proposed by Ciborra, the paper argues that information-related problem

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Khanakwa, Sarah, and Josue Mbonigaba. "Institutional Arrangements for Providing HIV and AIDS Services in Uganda: A Transaction Cost Economics Analysis." Health Services Insights 15 (January 2022): 117863292210960. http://dx.doi.org/10.1177/11786329221096046.

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Transaction cost economics (TCE) theory predicts that features of institutional arrangements determine the intensity of their governance instruments. Consequently, institutional features link to transaction costs, but the linkages have received little attention in the public health literature. This study sought to address this gap. It examined the governance features of institutional arrangements and their transaction cost implications for providing HIV prevention and social support services in Uganda. The analysis was based on 4 proposed TCE governance instruments: administrative controls, ad

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Ma, Zitong. "Analysis of Manchester United Club's Development from the Perspective of New Institutional Economics." Frontiers in Humanities and Social Sciences 5, no. 3 (2025): 33–39. https://doi.org/10.54691/yf7ps436.

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This paper, from the perspective of new institutional economics, provides an in-depth analysis of the development trajectory and challenges faced by Manchester United Football Club. By employing multiple theoretical frameworks, including transaction cost theory, contract theory, property rights theory, and enterprise institutional theory, the study examines issues such as equity transactions, managerial contract management, broadcast revenue distribution, and club governance structure at Manchester United. The research reveals that the high service fees incurred during equity transactions refl

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Abbas, M. H. I., E. Yusida, M. P. Priambodo, L. F. Prastiwi, and N. Istiqomah. "Identifying production costs of cut roses: An institutional economics perspective." IOP Conference Series: Earth and Environmental Science 1338, no. 1 (2024): 012064. http://dx.doi.org/10.1088/1755-1315/1338/1/012064.

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Abstract In institutional economic theory, transaction costs are one of the main focuses of discussion. Transaction costs create inefficiencies in production. Roses are one of the main commodities produced by Batu City. This research aims to identify transaction costs that are borne by cut rose farmers in Batu City. Transaction costs result in higher production costs, thereby reducing farmers’ profits. This study uses a descriptive qualitative approach. Research data was obtained through interview techniques with cut rose farmers. The research results show that there are six types of transacti

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Hardt, Lukasz. "The history of transaction cost economics and its recent developments." Erasmus Journal for Philosophy and Economics 2, no. 1 (2009): 29. http://dx.doi.org/10.23941/ejpe.v2i1.22.

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The emergence of transaction cost economics (TCE) in the early 1970s with Oliver Williamson's successful reconciliation of the so-called neoclassical approach with Herbert Simon's organizational theory can be considered an important part of the first cognitive turn in economics. The development of TCE until the late 1980s was particularly marked by treating the firm as an avoider of negative frictions, i.e., of transaction costs. However, since the 1990s TCE has been enriched by various approaches stressing the role of the firm in creating positive value, e.g., the literature on modularity. He

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Innayah, Eka Putri, and Yayan Nasikin. "Implementasi Teory Transaction Cost Economics (TCE) Dalam Kebijakan Antitrust Prespektif Islam." Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah 4, no. 6 (2022): 1585–93. http://dx.doi.org/10.47467/alkharaj.v4i6.1028.

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In economic studies, Islam lays down fundamental principles that are global in nature. Often competition between business entities is seen as an obstacle for business people, but it is an unavoidable interaction. In competition, imperfect competition behavior often occurs by carrying out monopoly actions. To that end, the government issues an antitrust policy to regulate and promote healthy competition in the economic ecosystem. The application of Theory Transaction Cost Economics (TCE) in antitrust policies is important in order to produce a healthy rule of law. In the Islamic view, this is u

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Zainuddin, Farah Kamilah, Fara Diva Mustapa, and Siti Hajar Misnan. "TRANSACTION COST ECONOMICS FOR HOUSING DEVELOPMENT: SYSTEMATIC LITERATURE REVIEW." International Journal of Innovation and Industrial Revolution 4, no. 12 (2022): 16–23. http://dx.doi.org/10.35631/ijirev.412002.

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Over the years, Transaction Cost Economics (TCE) has been successfully applied into various industries in attempt to analyse on the cost-effectiveness of their activities and performances within the economic activities. As such, Construction Industry also adopt the theory by taking advantage of TCE’s good merits in their construction plan and activities. In parallel with TCE application in various industries, academic works regarding this research domain have been rising steadily. Which is why this research sets to study the application of TCE in Housing Development to determine the possibilit

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Lacity, Mary C., Leslie P. Willcocks, and Shaji Khan. "Beyond Transaction Cost Economics: Towards an endogenous theory of Information Technology Outsourcing." Journal of Strategic Information Systems 20, no. 2 (2011): 139–57. http://dx.doi.org/10.1016/j.jsis.2011.04.002.

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Martynov, Aleksey, and Donald J. Schepker. "Risk Preferences and Asset Ownership: Integrating Prospect Theory and Transaction Cost Economics." Managerial and Decision Economics 38, no. 2 (2015): 125–43. http://dx.doi.org/10.1002/mde.2746.

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Chen, Yong Hong, and Ning Xu. "The Economics Analysis of Large-Scale Project Organization." Applied Mechanics and Materials 147 (December 2011): 303–7. http://dx.doi.org/10.4028/www.scientific.net/amm.147.303.

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Large-scale projects have the features that large organization size, complex relationships between the organization and a serious information asymmetry between project participants. This study carries out in-depth economic analysis about large-scale projects organization, based on principal-agent theory and transaction cost theory from the perspective of new institutional economics, at the same time, establish the economic theoretical framework, it has positive significance to the rational design of the project contract and scientific analysis of the construction economic relations.

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VALENTINOV, V. "Third sector organizations in rural development: a transaction cost perspective." Agricultural and Food Science 18, no. 1 (2008): 3. http://dx.doi.org/10.2137/145960609788066825.

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In many parts of the world, rural development is supported by third sector organizations, such as nongovernmental organizations, farmer associations, and cooperatives. This essay develops a transaction cost explanation of these organizations role in rural areas. Since the traditional transaction cost theory is concerned with the choice of governance mechanisms within the for-profit sector, this essay adopts an alternative conceptualization of the notion of transaction cost by building on the theory of the division of labor. This theory regards transaction cost as a constraint on the division

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Szkudlarek, Piotr. "Telecommunications services market in the light of the Agency Theory and the Transaction Cost Theory under New Institutional Economics: case for Poland." JOURNAL OF INTERNATIONAL STUDIES 7, no. 3 (2014): 70–80. http://dx.doi.org/10.14254/2071-8330.2014/7-3/6.

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Bowles, Samuel, and Herbert Gintis. "The Revenge of Homo Economicus: Contested Exchange and the Revival of Political Economy." Journal of Economic Perspectives 7, no. 1 (1993): 83–102. http://dx.doi.org/10.1257/jep.7.1.83.

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Recent developments in microeconomic theory have shown that the self-interested behavior underlying neoclassical theory is artificially truncated: it depicts a charmingly Victorian but Utopian world in which conflicts abound but a handshake is a handshake. But a handshake is not always a handshake. Studies of principal-agent analysis, the economics of information, radical political economy, mechanism design, and transactions cost economics have all focused on the difficulties involved in policing and enforcing the actual process of market exchange. Abandoning the Victorian world of neoclassica

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Chen, Liang. "Reform of Compulsory Education Teachers’ Communication System from the Perspective of New Institutional Economics." International Journal for Innovation Education and Research 4, no. 7 (2016): 176–83. http://dx.doi.org/10.31686/ijier.vol4.iss7.572.

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According to the four main theory of transaction cost theory, property rights theory, state theory and the theory of institutional change from the new institutional economics, this paper gives a theoretical analysis about our country’s compulsory education teacher exchange system and puts for ward the reform path of the system.

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Shkodinsky, S. V., L. F. Malinovsky, and A. A. Gainitdinov. "Russian companies foreign market entry mode choice based on transaction cost theory." Bulletin of the State University of Education. Series: Economics, no. 2 (June 6, 2024): 27–36. https://doi.org/10.18384/2949-5024-2024-2-27-36.

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Aim. To substantiate the possibilities of applying the theory of transaction costs as a scientific and methodological basis for determining the form and method of entry of Russian companies into foreign markets.Methodology. The theoretical basis of the study was provided by scientific works of Russian and foreign scientists, devoted to both economic theory in general and the institutional direction of economic science in particular. The following scientific methods were applied during the research: bibliographic analysis, system analysis, as well as methods of deduction and induction, comparis

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50

Murwati, Nanik, Hadi Prabowo, Hyronimus Rowa, Halilul Khairi, and Ananda Putri Sujatmiko. "Simplifying the Bureaucracy Through Transaction Cost Theory." Jurnal Bina Praja 16, no. 2 (2024): 389–402. https://doi.org/10.21787/jbp.16.2024.389-402.

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The policy of simplifying the bureaucracy aims to simplify, but in its preparation, it produces many regulations that also cost a lot of money. The Ministry of Finance publishes an average cost incurred for the preparation of one ministerial regulation of up to Rp232 million, not including other costs that do not look like the formulation time. This study analyzes transaction costs in bureaucratic simplification and identifies government efforts to improve transaction cost efficiency. This study uses mixed methods and explanatory sequential analysis to analyze the efforts made by the Governmen

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