Resource title

Transaction Cost Economics: An Introduction

Resource image

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Resource description

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.

Resource author

Oliver E. Williamson

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/17926

Resource license

Adapt according to the presented license agreement and reference the original author.