Modeling Relational Transactions

Josef Wieland, Albrecht Müller, Andrej Nikonov, Leonhard Teichert, Sebastian Lehrack and Lukas Törner ()
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Josef Wieland: Zeppelin University
Albrecht Müller: Parmenides Foundation
Andrej Nikonov: Cognostics AG
Leonhard Teichert: Cognostics AG
Sebastian Lehrack: Cognostics AG
Lukas Törner: Zeppelin University

A chapter in The Relational View of Economics, 2022, pp 75-94 from Springer

Abstract: Abstract This paper proposes an actor-based approach to model relational transactions. The text entails a brief summary of the essential concepts of relational economics. The concepts of “resources of cooperation” and “cooperation corridor” are specified. Next, the study offers a guideline to model relational transactions in an n-dimensional vector space and describes the modeling of the emergence of transactions by focusing on multiple decision logics and an actor’s context. The results of this investigation show relational economics can benefit from using actor-based approaches. Modeling a network of relational transactions is strong in showing cooperative value creation. Future research may apply this model to structure formation and the analysis of strategic choice. The second major finding is that this way with multi-dimensional accounting data polycontextural, global economic clusters and organizational, strategic learning processes can be researched.

Keywords: Relational transactions; Network methods; Agent-based model; Cooperation; Strategy (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:recchp:978-3-030-86526-9_5

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DOI: 10.1007/978-3-030-86526-9_5

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