Event Title
Old Theory and New Technology— Information Technology’s Impact on Transaction Cost Economics
Start Date
11-8-2016
Description
We challenge some assumptions and interpretations of transaction cost economics by examining information technology’s impact on transaction costs of firms. We propose a dynamic view of transaction costs and multi-faceted transactions of firms to better align transaction cost economics with empirical evidence. In concluding, we discuss consequences of transaction cost changes—the creation of different size of firms and the creation of more complex firm forms.
Old Theory and New Technology— Information Technology’s Impact on Transaction Cost Economics
We challenge some assumptions and interpretations of transaction cost economics by examining information technology’s impact on transaction costs of firms. We propose a dynamic view of transaction costs and multi-faceted transactions of firms to better align transaction cost economics with empirical evidence. In concluding, we discuss consequences of transaction cost changes—the creation of different size of firms and the creation of more complex firm forms.