This article connects theory of learning with theory of governance, in the context of inter-firm relations.It recognizes fundamental criticism of transaction cost economics (TCE), but preserves elements from that theory.Two kinds of relational risk are identified: hold-up and spillover risk.For the governance of relations, i.e. the control of relational risk, the article presents a set of instruments that includes trust, next to instruments adopted and adapted from TCE.It also includes roles for gobetweens.Some references to empirical evidence are included.
|Place of Publication||Tilburg|
|Number of pages||19|
|Publication status||Published - 2005|
|Name||CentER Discussion Paper|
- Inter-firm alliances
- transaction costs