All organizations, institutions, business processes, markets and
strategies have one aim in common: the reduction of transaction
costs. This aim is pursued relentlessly in practice, and has been
perceived to bring about drastic changes, especially in the recent
global market and the cyber economy. This book analyzes and
describes "transactions" as a model, on the basis of which
organizations, institutions and business processes can be
appropriately shaped. It tracks transaction costs to enable a
scientific approach instead of a widely used "state-of-the-art"
approach, working to bridge the gap between theory and practice.
This open access book analyzes and describes "transactions" as a
model...
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