Transaction Cost Economics: An Introduction

Oliver Williamson

No 2007-3, Economics Discussion Papers from Kiel Institute for the World Economy (IfW Kiel)

Abstract: This overview of transaction cost economics is organized around the "Carnegie Triple" - be disciplined; be interdisciplinary; have an active mind. The first of these urges those who would open up the black box of economic organization to do so in a modest, slow, molecular, definitive way, with the object of deriving refutable implications and submitting these to empirical testing. The second recommends that the student of economic organization be prepared to cross disciplinary boundaries if and as this is needed to preserve veridical contact with the phenomena. The injunction have an active mind is implemented by being curious and asking the question "What is going on here?" The paper concludes with a discussion of operationalization.

JEL-codes: D2 D73 D86 L2 (search for similar items in EconPapers)
Date: 2007
New Economics Papers: this item is included in nep-bec, nep-cbe and nep-hpe
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwedp:5517

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