Human Capital and Transaction Cost Economics
Center for Strategic Management and Globalization Working Paper No. SMG WP 2/2008
34 Pages Posted: 17 Jan 2008
Date Written: January 11, 2008
Human capital has often been discussed in transaction cost economics, particularly in connection with understanding the employment relation. This chapter reviews Williamson's thinking on the issue, explains how it differs from Coase and Simon's, and briefly discusses the relevant empirical literature. The chapter also covers property rights theory, and discusses various critiques of the treatment of human capital in transaction cost economics.
Keywords: Human capital, transaction cost economics, property rights theory.
JEL Classification: D23, J24, M5
Suggested Citation: Suggested Citation