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Show Results For
- All HBS Web
(2,380)
- News (411)
- Research (1,762)
- Events (15)
- Multimedia (3)
- Faculty Publications (686)
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- Forthcoming
- Article
Transaction Cost Economics in the Digital Economy: A Research Agenda
By: Frank Nagle, Robert Seamans and Steve Tadelis
Transaction cost economics theory explains when it is more efficient for a transaction between two parties to occur across the market or within an organization. How does transaction cost economics apply in the digital economy, which relies on digital transactions? In... View Details
Keywords: Transaction Cost Economics; Digital Economy; Economics; Cost; Markets; Research; Digital Transformation
Nagle, Frank, Robert Seamans, and Steve Tadelis. "Transaction Cost Economics in the Digital Economy: A Research Agenda." Strategic Organization (forthcoming). (Pre-published online January 18, 2024.)
- 2020
- Working Paper
Transaction Cost Economics in the Digital Economy: A Research Agenda
By: Frank Nagle, Robert Seamans and Steve Tadelis
Transaction Cost Economics (TCE) theory has played an important role in understanding when it is more efficient for a transaction between two parties to occur within the market or within an organization. However, as more transactions occur in a digitally-mediated... View Details
Keywords: Transaction Cost Economics; Digital Economy; Economics; Cost; Markets; Research; Digital Transformation
Nagle, Frank, Robert Seamans, and Steve Tadelis. "Transaction Cost Economics in the Digital Economy: A Research Agenda." Harvard Business School Working Paper, No. 21-009, July 2020.
- August 2022
- Article
Contract Duration and the Costs of Market Transactions
By: Alexander MacKay
The optimal duration of a supply contract balances the costs of reselecting a supplier against the costs of being matched to an inefficient supplier when the contract lasts too long. I develop a structural model of contract duration that captures this tradeoff and... View Details
Keywords: Supply Contracts; Intermediate Goods; Switching Costs; Vertical Relationships; Transaction Costs; Contract Duration; Identification; Supply Chain; Cost; Contracts; Auctions; Mathematical Methods
MacKay, Alexander. "Contract Duration and the Costs of Market Transactions." American Economic Journal: Microeconomics 14, no. 3 (August 2022): 164–212.
- 2020
- Working Paper
Contract Duration and the Costs of Market Transactions
By: Alexander MacKay
The optimal duration of a supply contract balances the costs of reselecting a supplier against the costs of being matched to an inefficient supplier when the contract lasts too long. I develop a structural model of contract duration that captures this tradeoff and... View Details
Keywords: Vertical Relationships; Transaction Costs; Contract Duration; Identification; Supply Chain; Cost; Contracts; Auctions; Mathematical Methods
MacKay, Alexander. "Contract Duration and the Costs of Market Transactions." Harvard Business School Working Paper, No. 18-058, December 2017. (Revised May 2020. Direct download.)
- 01 Sep 2020
- Working Paper Summaries
Transaction Cost Economics in the Digital Economy: A Research Agenda
- 23 Jan 2018
- Working Paper Summaries
Transaction Costs and the Duration of Contracts
Keywords: by Alexander MacKay
- 2024
- Book
Deals: The Economic Structure of Business Transactions
By: Guhan Subramanian and Michael Klausner
Drawing on real-life cases from a wide range of industries, two acclaimed experts offer a sophisticated but accessible guide to business deals, designed to maximize value for your side.
Business transactions take widely varying forms—from multibillion-dollar... View Details
Business transactions take widely varying forms—from multibillion-dollar... View Details
Subramanian, Guhan, and Michael Klausner. Deals: The Economic Structure of Business Transactions. Harvard University Press, 2024.
- July 2007
- Article
Cooperation between Corporations and Environmental Groups: A Transaction Cost Perspective
Theory suggests that when transaction costs are low, corporations and stakeholders can minimize social costs by transacting to their mutual advantage, but when transaction costs are high, reducing social costs requires the intervention of a centralized institution.... View Details
Keywords: Cost vs Benefits; Cost; Corporate Social Responsibility and Impact; Business and Stakeholder Relations; Environmental Sustainability; Competitive Advantage; Cooperation
King, Andrew A. "Cooperation between Corporations and Environmental Groups: A Transaction Cost Perspective." Academy of Management Review 32, no. 3 (July 2007): 889–900.
Deals: The Economic Structure of Business Transactions
Business transactions take widely varying forms―from multibillion-dollar corporate mergers to patent licenses to the signing of an all-star quarterback. Yet every deal shares the same goal, or at least should: to maximize the joint value created and to distribute... View Details
- February 1984
- Article
A Monetary Equilibrium Model with Transaction Costs
By: J. J. Rotemberg
Keywords: Cost
Rotemberg, J. J. "A Monetary Equilibrium Model with Transaction Costs." Journal of Political Economy 92, no. 1 (February 1984): 40–58.
- March 1997
- Article
Transactions Costs and Capital Structure Choice: Evidence from Financially Distressed Firms
By: S. C. Gilson
This study provides evidence that transactions costs discourage debt reductions by financially distressed firms when they restructure their debt out of court. As a result, these firms remain highly leveraged and one-in-three subsequently experience financial distress.... View Details
Keywords: Cost; Capital Structure; Decision Choices and Conditions; Information; Finance; Business Ventures
Gilson, S. C. "Transactions Costs and Capital Structure Choice: Evidence from Financially Distressed Firms." Journal of Finance 52, no. 1 (March 1997): 161–196. (Abstracted in Contemporary Finance Digest 1 (autumn 1997))
- August 1993
- Article
Transaction Cost Theory: Inferences from Clinical Field Research
Cespedes, Frank V. "Transaction Cost Theory: Inferences from Clinical Field Research." Organization Science 4, no. 3 (August 1993): 454–477.
- 25 Sep 2019
- Research & Ideas
The Economic Cost of Physician Burnout
In part, that’s due to the difficulty of calculating the economic cost of all of the factors involved. For instance, some studies have associated burnout with an increase in medical errors, but calculating... View Details
- 1993
- Conference Presentation
Transaction Costs and Contractual Choice in Alliances: Implications of Repeated Ties
By: Ranjay Gulati
- 1994
- Chapter
International Experiences with Securities Transaction Taxes
By: K. A. Froot and J. Campbell
Keywords: Corporation Taxation; Interest Deductibility; Cost Of Capital; Corporate Finance; Accounting; Borrowing and Debt; Financing and Loans; Interest Rates
Froot, K. A., and J. Campbell. "International Experiences with Securities Transaction Taxes." In The Internationalization of Equity Markets, edited by J. Frankel, 277–308. University of Chicago Press, 1994. (Revised from NBER Working Paper No. 4587, December 1993; also featured in The NBER Digest, May 1994.)
- 15 Oct 2014
- News
Economic costs of Ebola rising as people shun human contact
- August 1993
- Article
Transaction Cost Theory: Inferences from Clinical Field Research on Downstream Vertical Integration
By: V. K. Rangan, E. R. Corey and F. V. Cespedes
Rangan, V. K., E. R. Corey, and F. V. Cespedes. "Transaction Cost Theory: Inferences from Clinical Field Research on Downstream Vertical Integration." Organization Science 4, no. 3 (August 1993): 454–477.
- March 2023 (Revised December 2023)
- Background Note
Economic Analysis: The Hidden Costs of Layoffs and Managing Staff Reductions
By: Sandra J. Sucher, Marilyn Morgan Westner and Christopher Diak
Globally, over the past fifty years, more companies have used layoffs to cut costs during periods of decreased demand or economic downturns. But layoffs have far-reaching consequences, generate hidden costs, and harm the company in myriad ways. This note reviews ways... View Details
Keywords: Human Resource Management; Layoffs; Furloughs; Human Resources; Management Practices and Processes; Employee Relationship Management; Resignation and Termination; Compensation and Benefits; United States
Sucher, Sandra J., Marilyn Morgan Westner, and Christopher Diak. "Economic Analysis: The Hidden Costs of Layoffs and Managing Staff Reductions." Harvard Business School Background Note 323-073, March 2023. (Revised December 2023.)
- September 2004
- Article
Relative Explanatory Power of Agency Theory and Transaction Cost Analysis in German Salesforces
By: Manfred Krafft, Sönke Albers and Rajiv Lal
Krafft, Manfred, Sönke Albers, and Rajiv Lal. "Relative Explanatory Power of Agency Theory and Transaction Cost Analysis in German Salesforces." International Journal of Research in Marketing 21, no. 3 (September 2004): 265–283.
- May 2014
- Article
Representative Evidence on Lying Costs
By: Johannes Abeler, Anke Becker and Armin Falk
A central assumption in economics is that people misreport their private information if this is to their material benefit. Several recent models depart from this assumption and posit that some people do not lie or at least do not lie maximally. These models invoke many... View Details
Keywords: Private Information; Lying Costs; Tax Morale; Representative Experiment; Information; Microeconomics; Taxation; Behavior
Abeler, Johannes, Anke Becker, and Armin Falk. "Representative Evidence on Lying Costs." Journal of Public Economics 113 (May 2014): 96–104.