Transaction Costs Theory and evolutionary approaches: Analysis and Perspectives of a Pluralist Research Program

Vol. 21 No. 2 (2001)

Apr-Jun / 2001
Published April 1, 2001
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

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Pessali, Huáscar Fialho, and Ramón García Fernández. 2001. “Transaction Costs Theory and Evolutionary Approaches: Analysis and Perspectives of a Pluralist Research Program”. Brazilian Journal of Political Economy 21 (2):286-303. https://doi.org/10.1590/0101-31572001-0988.
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Transaction Costs Theory and evolutionary approaches: Analysis and Perspectives of a Pluralist Research Program

Huáscar Fialho Pessali
Do Departamento de Economia da Universidade Federal do Paraná. Curitiba/PR, Brasil.
Ramón García Fernández
Professor visitante do Departamento de Economia da University of Massachussetts, Amherst, EUA.
Brazilian Journal of Political Economy, Vol. 21 No. 2 (2001), Apr-Jun / 2001, Pages 286-303

Abstract

Transaction Costs Theory has been considered the “new orthodoxy” of the theory of the firm, and it is also the reason for it has been widely criticized by different schools of economic thought. However, there seems to be signs of complementarity between TCT and evolutionary approaches to the firm. Some alleged interfaces are discussed here, in order to suggest new directions for a research agenda on the theory of the firm, within a pluralistic framework.

JEL Classification: B25; D21.


Keywords: Transaction costs New Institutional Economics Schumpeterian analysis history of economic thought firm theory