Binomial Logistic Models, Transaction Costs, and Joint Ventures: A Methodological Note

Author(s):  
Jean-François Hennart
2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Andrei Cechin ◽  
Jean Pierre Passos Medaets ◽  
Armando Fornazier ◽  
Ana Carolina Pereira Zoghbi

PurposeOrganic food has additional quality attributes compared to those found in conventional food, such as environmental responsibility and health benefits. Information about these attributes is scarce and complex, the assortment of organic foods is deficient and there are fewer places that sell this kind of food. These factors increase the uncertainty and the transaction costs (TCs) for potential organic fresh fruit and vegetable (FFV) consumers. This paper aims to show the influence of these costs on the intensity of organic FFV consumption, particularly among high-income consumers.Design/methodology/approachThe empirical strategy was based on a survey, and data were collected by administering a structured online questionnaire among residents of the Brazilian Federal District. Organic food consumption was decomposed into three different intensity categories. Data analysis was based on two logistic models, a multinomial regression and an ordered regression, where perceived economic value and different dimensions of TCs were the main independent variables, and the intensity of organic food consumption was the dependent variable.FindingsThe results show that organic food consumers are not a homogeneous group, and that perceived economic value and the TCs associated with searching for marketplaces, inadequate product assortment and distrust in health benefits and in organic authenticity are important inhibitors of organic FFV consumption and help explain the intensity of consumption.Originality/valueThis study innovates, as it takes a post-purchase approach, examines different groups based on the intensity of their consumption of organic FFV and focuses on perceived economic value and TCs as important explanations of the intensity of organic FFV consumption.


1988 ◽  
Vol 9 (4) ◽  
pp. 361-374 ◽  
Author(s):  
Jean-Francois Hennart

2020 ◽  
pp. 51-81
Author(s):  
D. P. Frolov

The transaction cost economics has accumulated a mass of dogmatic concepts and assertions that have acquired high stability under the influence of path dependence. These include the dogma about transaction costs as frictions, the dogma about the unproductiveness of transactions as a generator of losses, “Stigler—Coase” theorem and the logic of transaction cost minimization, and also the dogma about the priority of institutions providing low-cost transactions. The listed dogmas underlie the prevailing tradition of transactional analysis the frictional paradigm — which, in turn, is the foundation of neo-institutional theory. Therefore, the community of new institutionalists implicitly blocks attempts of a serious revision of this dogmatics. The purpose of the article is to substantiate a post-institutional (alternative to the dominant neo-institutional discourse) value-oriented perspective for the development of transactional studies based on rethinking and combining forgotten theoretical alternatives. Those are Commons’s theory of transactions, Wallis—North’s theory of transaction sector, theory of transaction benefits (T. Sandler, N. Komesar, T. Eggertsson) and Zajac—Olsen’s theory of transaction value. The article provides arguments and examples in favor of broader explanatory possibilities of value-oriented transactional analysis.


2013 ◽  
pp. 151-159
Author(s):  
O. Krasilnikov ◽  
E. Krasilnikova

The article discusses the development of non-public monetary systems (NPMS), defined as a specific economic institution. It presents their comparison with public money systems depending on the size of transaction costs. The authors come to the conclusion that in conditions of the information economy on the basis of Internet-technologies NPMS receive a new impetus to their development and can make serious competition in regard to public monetary systems.


2018 ◽  
pp. 52-69
Author(s):  
A. N. Oleinik

The article develops a transactional approach to studying science. Two concepts play a particularly important role: the institutional environment of science and scientific transaction. As an example, the North-American and Russian institutional environments of science are compared. It is shown that structures of scientific transactions (between peers, between the scholar and the academic administrator, between the professor and the student), transaction costs and the scope of academic freedom differ in these two cases. Transaction costs are non-zero in both cases, however. At the same time, it is hypothesized that a greater scope of academic freedom in the North American case may be a factor contributing to a higher scientific productivity.


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