haku: @indexterm individual behaviour / yhteensä: 848
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| Tekijä: | Hill, C. W. L. |
| Otsikko: | Cooperation, opportunism, and the invisible hand: implications for transaction cost theory |
| Lehti: | Academy of Management Review
1990 : JUL, VOL. 15:3, p. 500-513 |
| Asiasana: | TRANSACTION COSTS INDIVIDUAL BEHAVIOUR CO-OPERATION |
| Kieli: | eng |
| Tiivistelmä: | Transaction cost theories have generally neglected to consider the implications that the invisible hand of the market mechanism can have for the risk of opportunism. In the long run, the invisible hand deletes actors whose behaviour is habitually opportunistic. As markets move toward the state of competitive equilibrium, the risk of opportunism will be low. Therefore, in many contexts the transaction cost rationale for internalization has been overstated. |
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