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A NEW APPROACH IN ECONOMICS: TRANSACTION COSTS THEORY

Andreea-Oana Iacobuta ()

Annals of Faculty of Economics, 2009, vol. 2, issue 1, 370-375

Abstract: Ronald Coase article from 1937, The Nature of the Firm, meant a new way of thinking and conceiving of the world, especially of economic organisations. Coase argued that the firm and the market represent two alternative ways to organise the same transactio

Keywords: transaction costs; bounded rationality; opportunism; asset specificity; governance (search for similar items in EconPapers)
JEL-codes: B52 D23 L22 (search for similar items in EconPapers)
Date: 2009
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