Font Size: a A A

Review On The Williamson's Theory Of Transaction Costs

Posted on:2006-03-24Degree:MasterType:Thesis
Country:ChinaCandidate:Y LiuFull Text:PDF
GTID:2156360152470176Subject:Western economics
Abstract/Summary:PDF Full Text Request
Transaction costs are the analyze tool and category that have the theories foundation meaning of the new institutional economics. R.Coase brought up the conception of transaction costs, but he did not study the decisive factors of transaction costs, characters and measure of transaction costs. After R.Coase, Williamson had done a large quantity of works with full of resulted in the aspect of transaction costs, such as meaning, the decisive factors and application, etc. His research founded the transaction costs economics which is the important branch of the new institutional economics, so Williamson was called the man that a generalization of the transaction costs theories. On understand of the inside meaning and outside meaning about transaction costs, he study the meanings of transaction costs from the particular analysis objection and angle. Williamson analyzed the problem about the decisive factors of transaction costs from factors about people, factors about transaction and factors about the environment of transaction. On the research of economy organization, his main standpoint or the main contribution was that he thought different governance structure should match different types of transaction; the purpose of match was made the transaction costs minimum. Williamson used transaction costs tool in deeply studied various economy organize problems, especially enterprise, market and with the problem that it related sign contract. He along the way of transaction costs thinking from R.Coase at the aspect of enterprise theories, use the existence and change of transaction costs to explain the choice of the enterprise, market and medium organizations. Williamson's contribution about transaction costs theory not only express on his analysis to the decisive factors of transaction costs, but also express on the application study of transaction costs, and this primarily express on the research of vertical integration and mortgage goods model. This thesis on the foundation of clear the system of Williamson's transaction costs theory, not only affirmative his theories' breakthrough contribution, but also has review on the shortcoming of his theory system. The review concentrate on the comprehension of the transaction costs conception and the decisive factors of transaction costs, also in the aspect about the theory of transaction match the governance structure and the choice of the enterprise, market and medium organizations. From a series of theories' review, we can get some enlighten, for example from the Williamson's research concerning human naturemodel in his transaction costs theory, we can analyze the inside mechanism that produce the trust, so we will understand the. deep level of the reason from human nature in the lost of enterprise's trust. This have important enlighten meanings to enhance our country's enterprise's trust construction.
Keywords/Search Tags:transaction, transaction costs, governance structure, nature of firm, bounded rationality, opportunism, vertical integration
PDF Full Text Request
Related items