Integrating variable risk preferences, trust, and transaction cost economics

• 成果类型: Article
• 署名作者: Chiles, TH; McMackin, JF
• 刊物名称: ACADEMY OF MANAGEMENT REVIEW
• ISSN/ISSBN: 0363-7425
• DOI: 10.2307/258630
• 发表日期: 1996
• 页码: 73-99
• 关键词: Vertical Integration; ORGANIZATIONS; COOPERATION; reputation; MARKET; PERSPECTIVES; opportunism; INFORMATION; PSYCHOLOGY; strategy

摘要

Transaction cost economics (TCE) relies on three behavioral assumptions in predicting how firms choose governance structures-bounded rationality. opportunism. and risk neutrality. We explore the implications of the neglected behavioral assumption of risk neutrality. offer am integrative appraisal of the three behavioral assumptions using trust as or unifying perspective. and explicate subjective costs and risks. We illustrate the relative ease with which previous empirical shortcomings can be addressed by incorporating risk and trust in TCE models.