Human Capital and Transaction Cost Economics

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    Abstract

    Human capital has often been discussed in transaction cost economics, particularly in connection with understanding the employment relation. This chapter reviews Williamson’s thinking on the issue, explains how it differs from Coase and Simon’s, and briefly discusses the relevant empirical literature. The chapter also covers property rights theory, and discusses various critique of the treatment of human capital in transaction cost economics.
    Original languageEnglish
    Place of PublicationFrederiksberg
    PublisherCenter for Strategic Management and Globalization
    Number of pages26
    ISBN (Print)9788791815157
    Publication statusPublished - Jan 2008
    SeriesSMG Working Paper
    Number2/2008

    Keywords

    • Human capital
    • Transaction cost economics
    • Property rights theory

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