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Toward Behavioral Transaction Cost Economics: Theoretical Extensions and an Application to the Study of Mnc Subsidiary Ownership
Paperback
Series: International Marketing and Management Research
ISBN13: 9783030468804
Publisher: Palgrave Macmillan
Published: Oct 27 2021
Pages: 377
Weight: 1.14
Height: 0.88 Width: 5.83 Depth: 8.27
Language: English
Adopting a critical realist position, this book renders transaction cost economics (TCE) into a behavioral theory of organizational decision-making by foregrounding psychological processes and introducing and integrating with effectuation theory. Consistent with its behavioral agenda, the book introduces the concept of uncertainty controllability and provides a clearer conceptualization and a novel modeling strategy of bounded rationality based on the conceptual separation of cognitive bounds from psychological 'rationalizing.' The book inspires new insights into the significance of cultural distance (CD). Based on the understanding that culture is socially-extended cognition, the author re-conceptualizes CD as reflecting cognitive bounds, and uses the biases arising from CD to contextualize effectuation and deepen the flat ontology of both TCE and effectuation theory.
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Toward Behavioral Transaction Cost Economics: Theoretical Extensions and an Application to the Study of Mnc Subsidiary Ownership
Peng, George Z.
Hardcover
Also from
Peng, George Z.
Toward Behavioral Transaction Cost Economics: Theoretical Extensions and an Application to the Study of Mnc Subsidiary Ownership
Peng, George Z.
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