Transaction costs — explaining the shape you're in

Abstract

Describes an overview of a substantial body of theory, whose importance lies in the concept, not the detail. States one of the bugbears of joint ventures is the worry that a partner may have a hidden agenda. Posits many alliances are formed to gain access to specific assets, but access is different to ownership. Concludes firms should be structured and organized in such a way that rationality is enhanced and opportunistic self‐interest reduced.

Citation

Kippenberger, T. (1997), "Transaction costs — explaining the shape you're in", The Antidote, Vol. 2 No. 4, pp. 6-7. https://doi.org/10.1108/EUM0000000006344