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| Author: | Smith Ring, P. |
| Title: | Transaction in the state of union. A case study of exchange governed by convergent interests (Unternehmenskooperation; Konferenztechnik; Konfliktmodell) |
| Journal: | Journal of Management Studies
1997 : JAN, VOL. 34:1, p. 1-25 |
| Index terms: | |
| Freeterms: | ÖFFENTLICHE VERWALTUNG, INDUSTRIEBETRIEBE |
| Language: | eng |
| Abstract: | Transaction cost economics (TCE) treatments rarely devote extended consideration to the comparative advantages of non-contractual governance. This paper focuses on one form of non-contractual alternative. After addressing the concept of a 'state of contract' as inferred from TCE theory , the author offers an alternative, the state of union, in which the parties to an exchange can have their cake (efficient production function frontiers) and eat it too (equitable outcomes without costly safeguards). An application of the concept is presented in a case study. |
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