The Impact of Empirical Tests of Transaction Cost Economics on the Debate on the Nature of the Firm

  title={The Impact of Empirical Tests of Transaction Cost Economics on the Debate on the Nature of the Firm},
  author={Richard P Carter and Geoffrey M. Hodgson},
Transaction cost economics (TCE), as developed and operationalized by Oliver Williamson, is one of the most prominent and influential developments in the social sciences. In recent years, on the basis of many empirical studies, it has been claimed that the evidence has corroborated TCE. If so, this would have major implications for the debate between TCE and other approaches to understanding the nature of the firm. In this paper we submit the most prominent TCE empirical work to critical… CONTINUE READING

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