concepts
type: Collection
type: ConceptGroup
member: transaction cost theory

management theory
type: Concept
narrower: transaction cost theory

managing environments
type: Concept
narrower: transaction cost theory

operations management theory
type: Concept
narrower: transaction cost theory

organizational economics
type: Concept
narrower: transaction cost theory

transaction cost theory
type: Concept
broader: organizational economics
broader: operations management theory
broader: managing environments
broader: management theory
definition: Transaction costs are the costs of exchange incurred when firms engage in economically motivated relationships. There are four distinct forms of transaction costs: search, contracting, monitoring, and enforcement costs. [Source: Encyclopedia of Business Ethics and Society; Transaction Costs]