Transaction and Transactors' Choices: What We Have Learned and What We Need to Explore
In Ménard C. and M.M. Shirley (Eds.), A Research Agenda for New Institutional Economics, 2018
11 Pages Posted: 14 Nov 2018 Last revised: 16 Apr 2020
Date Written: September 29, 2018
Despite the prolific literature on transaction costs, the concept of transaction still wants for a definition. This theoretical essay explains and recombines different-but closely related-dimensions of the transactional phenomenon (legal, competitive and political dimensions of a transaction) in order to identify promising avenues for future research.
Keywords: Transaction, Transaction Costs, Political economy, New Institutional Economics, Coase, John Commons, Oliver Williamson
Suggested Citation: Suggested Citation