Transaction cost economics adopts a contractual approach to the study of economic organizations. TCE is best thought of as accounting for all the costs of a deal or contract, both the obvious and hidden costs. Oliver Williamson is a pioneer is the study of TCE and won a Nobel Prize in 2009 for his research and thought leadership of TCE.
Transaction cost economics adopts a contractual approach to the study of economic organizations. TCE is best thought of as accounting for all the costs of a deal or contract, both the obvious and hidden costs. Oliver Williamson is a pioneer is the study of TCE and won a Nobel Prize in 2009 for his research and thought leadership of TCE.