Learning and Governance in Inter-firm Relations

  title={Learning and Governance in Inter-firm Relations},
  author={Bart Nooteboom},
This paper connects theory of learning with theory of governance, in the context of inter-firm relations. It recognizes fundamental criticism of transaction cost economics (TCE), but preserves elements from that theory. The theory of governance used incorporates learning and trust. The paper identifies two kinds of relational risk: hold-up and spillover. For the governance of relations, i.e. the control of relational risk, it develops a box of instruments which includes trust, next to… CONTINUE READING