Putting Opportunism in the Back Seat: Bounded Rationality, Costly Conflict and Hierarchical Forms

Nicolai Foss, Libby Weber

    Research output: Chapter in Book/Report/Conference proceedingArticle in proceedingsResearchpeer-review


    TCE and its applications in management research put more emphasis on opportunism than on bounded rationality. By augmenting the bounded rationality assumption to include interpretive limitations, we show that there are sources of costly conflict that are not rooted in opportunism. Moreover, we show that bounded rationality may drive opportunism. All hierarchal forms are inherently subject to specific bounded-rationality-based conflicts, thus have different capacities to mitigate bounded-rationality-based transaction costs.
    Original languageEnglish
    Title of host publicationAcademy of Management Proceedings 2013
    EditorsLeslie Toombs
    Place of PublicationBriar Cliff Manor, NY
    PublisherAcademy of Management
    Publication date2013
    Article number14596
    Publication statusPublished - 2013
    EventThe Academy of Management Annual Meeting 2013: Capitalism in Question - Lake Bueno Vista (Orlando), FL, United States
    Duration: 9 Aug 201313 Aug 2013
    Conference number: 73


    ConferenceThe Academy of Management Annual Meeting 2013
    Country/TerritoryUnited States
    CityLake Bueno Vista (Orlando), FL
    Internet address
    SeriesAcademy of Management Proceedings

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