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| Tekijä: | Hodgson, G.M. |
| Otsikko: | Opportunism is not the only reason why firms exist: why an explanatory emphasis on opportunism may mislead |
| Lehti: | Industrial and Corporate Change
2004 : APR, VOL. 13:2, p. 401-418 |
| Asiasana: | Management Strategy Strategic planning Externalities Transaction costs |
| Kieli: | eng |
| Tiivistelmä: | The object of the present essay is to question the explanatory role of the concept of opportunism in the transaction cost analysis of Oliver Williamson and his followers. Williamson has suggested that potential or actual opportunism emerges as the source of the 'transaction costs' involved in monitoring and enforcing contracts. On the contrary, it is shown here that there are several additional and likely sources of contract default or incomplete performance. |
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