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The Firm as Transaction Cost Economics Concept

Tchipev, Plamen D (2016): The Firm as Transaction Cost Economics Concept.

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This is a draft English translation of the paper The Firm as Transaction Cost Economics Concept/ Фирмата в Теорията на транзакционните разходи which has been published in the “National Scientific Conference on Political Economy. Proceedings Volume”, Ruse: Publishing Centre of the Ruse University, 2016 Abstract: Within the framework of the mainstream neoclassical model, the existence of the firm creates serious theoretical difficulties. Major attempt to overcome them, leads to application of the Transaction cost economics developed by Coase, Williamson, etc. On its own turn, it creates new contradictions, part of which are treated by the present paper from the point of evolutionary political economy.

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