Relational Costs and the Logic of Relational Economics

Josef Wieland ()
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Josef Wieland: Zeppelin University

Chapter Chapter 11 in Relational Economics, 2020, pp 145-153 from Springer

Abstract: Abstract The creation of cooperation corridors through specific investments by the collaborating partners is associated with costs, which in turn are compensated by the income from the cooperation. In addition to the familiar transaction costs, these include adjustment costs, cooperation costs and relational costs. Finally, determining the relationship between cooperation rents and corridors leads to a scheme of relational value creation that distinguishes between entrepreneurial teams and stakeholder networks. Modern societies must manage the trade-offs between cooperation costs and cooperation opportunities if they are to utilise the growth potential of global value creation.

Keywords: Relational costs; Cooperation corridor; Rent as supernormal profit; Relational value creation (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:recchp:978-3-030-45112-7_11

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DOI: 10.1007/978-3-030-45112-7_11

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