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| Author: | Chen, C.C. Peng, M.W. Saparito, P.A. |
| Title: | Individualism, collectivism, and opportunism: A cultural perspective on transaction cost economics |
| Journal: | Journal of Management
2002 : VOL. 28:4, p. 567-583 |
| Index terms: | Transaction costs Culture Economics Psychology |
| Language: | eng |
| Abstract: | Researchers criticize the transaction cost economics (TCE) paradigm for overgeneralizing the assumption of opportunism as human nature. This paper suggests that opportunistic propensity is affected by cultural prior conditioning of individualism-collectivism (I-C). Specifically, it is proposed that individualists have higher opportunistic propensity in intra-group transactions, and collectivists in inter-group transactions. Our cultural specification of opportunism helps TCE to more effectively accommodate some criticisms and more realistically deal with problems of economic organization in today's global economy. |
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