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- W2239902855 abstract "Transaction cost economics deals with the relations between the market and organizational hierarchies by virtue of institutionally-based comparative methodology. On the one hand, there is a discontinuity between the market and the organization, because of the fact thet the latter proved to be the solution concerning the so-called running-costs of the former. On the other hand, there is certain perpetuity between the market and the organization because of the presupposition of a quantitative scalar for the comparison of its incentives. The basic strategy of transaction cost economics relies upon the institutional analysis in the context of uncertainty, bounded rationality, the economics of idiosyncrasy and addresses ex ante and ex post conditions of contract. Economics of transport displays a lot proves for the transaction cost economics. First of all, the transaction costs play crucial role in the different domain of he transport and determinate the decision-making procedures of management and marketing. Second, the processes of vertical integration has been appearing during the eighties and nineties which are in accordance with the transactional reasoning. Third, franchise-arrangement in transport (especially in the airline behavior on local level and postal service) opens the door for the transaction cost economics. Analysis of the franchise bidding contributes to the articulation of the regulation/deregulation processes." @default.
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- W2239902855 date "1998-01-01" @default.
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- W2239902855 title "The importance of transaction costs in traffic economics: Application possibilities and critique (I)" @default.
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