Description
The Theory of Transaction in Institutional Economics
A History
Routledge Studies in the History of Economics Series
Language: English
Subjects for The Theory of Transaction in Institutional Economics:
Keywords
Transaction Cost Economics Literature; Public Official Actor; transaction costs; DEU; institutional economics; Vice Versa; economics and law; Potential Transactors; contract theory; Perfect Competition Framework; theory of the firm; Coase Theorem; search costs; Holdup Problem; information costs; Incomplete Contract Theory; bargaining costs; Invariant Thesis; enforcement costs; Legal Origin Theory; New Institutional Economics; Positional Goods; sunk costs; Residual Control Rights; Corporate Governance Regimes; Standard Optimality Condition; Actual Transaction; Fisher Body; Transversal Group; Bargaining Transaction; Innovative Sectors; Jural Correlatives; Individual Marginal Valuations; Economic Rents; Corporate Governance; Co-specific Assets
Publication date: 09-2023
· 15.6x23.4 cm · Paperback
Publication date: 07-2020
· 15.6x23.4 cm · Hardback
Description
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Despite abundant literature on transaction costs, there is little to no in-depth analysis regarding what the transaction is or how it works. Drawing on both Old and New Institutional Economics and on a variety of interdisciplinary sources, this monograph traces the history of the meaning of transaction in institutional economics, mapping its topicality and use over time.
This manuscript treats the idea of ?transaction? as a construct with legal, competitive and political dimensions, and connects different approaches within institutional economics. The book covers the contributions of key thinkers from different schools, including (in alphabetical order) Ronald H. Coase, John R. Commons, Robert Lee Hale, Oliver Hart, Mancur Olson, Thorstein Veblen and Olver E. Williamson.
This book will be of interest to advanced students and researchers of institutional economics, law and economics, and economics, and the history of economic thought.
Massimiliano Vatiero (Ph.D., University of Siena) is an Assistant Professor of Political Economy at the Department of Economics and Management (DEM) of the University of Trento (Italy), and is "Brenno Galli" Chair of Law and Economics at the Law Institute (IDUSI) of the Università della Svizzera Italiana, Switzerland.
