Comment on 'public and private bureaucracies: a transaction cost economic perspective,' by Oliver Williamson

Public-private partnership (PPP) projects are often characterisedby increased complexity and uncertainty due to their idiosyncrasyin the management and delivery processes such as long-termlifecycle, incomplete contracting, and the multitude of stakeholders.An appropriate risk allocation is particularly crucial to achievingproject success. This paper focuses on the risk allocation in PPPprojects and argues that the transaction cost economics (TCE)theory can integrate the economics part, which is currently missing,into the risk management research. A TCE-based approach isproposed as a logical framework for allocating risks between publicand private sectors in PPP projects. A case study of the SouthernCross Station redevelopment project in Australia is presented toillustrate the approach. The allocation of important risks is putunder scrutiny. Lessons learnt are discussed and alternativemanagement approaches drawing on TCE theory are proposed.

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Producer Cooperatives: A Transaction Cost Economic Approach

SSRN Electronic Journal ◽

10.2139/ssrn.2747355 ◽

2014 ◽

Author(s):

Joana Rodrigues Pereira

Keyword(s):

Transaction Cost ◽

Economic Approach ◽

Transaction Cost Economic ◽

Cost Economic

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Breaking out of the Regulatory Delusion. The Ban to Surrogacy and the Foundations of European Constitutionalism

Global Jurist ◽

10.1515/gj-2019-0062 ◽

2020 ◽

Vol 0 (0) ◽

Author(s):

Valentina Calderai

Keyword(s):

Public Policy ◽

Transaction Cost ◽

Legal Reform ◽

Fundamental Rights ◽

Top Down ◽

Transaction Cost Economic ◽

Economic Framework ◽

Alternative Approach ◽

Reproductive Services ◽

Cost Economic

AbstractThe transnational market of reproductive services puts a strain on western European States that refuse to acknowledge surrogacy contracts on public policy grounds. The cases decided so far rise three questions. First, under what circumstances foreign surrogacy judgements should be recognised? Second, what would be the constitutional repercussions of the recognition of these judgements? Third, how would it be like a legislation at once effective and respectful of fundamental rights of all parties involved? This Article analyses these questions and how they relate to each other. Based on a transaction-cost economic framework an argument is made that neither top-down, nor market-based regulatory solutions overcome the constitutional arguments that uphold the ban to surrogacy. An alternative approach to legal reform is considered, grounded on IPL and substantive domestic measures.

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A Wife’s Separate Financial Arrangement in Contemporary Japan

Journal of Family Issues ◽

10.1177/0192513x02250891 ◽

2003 ◽

Vol 24 (3) ◽

pp. 381-401 ◽

Cited By ~ 5

Author(s):

Hiromi Ono ◽

Ming-Ching Luoh

Keyword(s):

Panel Study ◽

Married Couples ◽

The United States ◽

Major Influence ◽

Partial Support ◽

Transaction Cost Economic ◽

Bank Account ◽

Economic Framework ◽

Logistic Regressions ◽

Cost Economic

This article tests the applicability of Treas’s transaction cost economic framework to contexts outside the allocation of bank accounts among married couples in the United States. Using the Japanese Panel Study of Consumer Life, the authors apply logistic regressions among Japanese couples who have joint accounts to predict (a) the chance that the wife has a separate bank account from the joint account and (b) the chance that she has an allowance. The results provide only partial support for the hypotheses based on Treas’s framework. Whereas Treas argues that the potential discontinuity of a marriage has a major influence on a couple’s separate financial arrangement, the study finds no evidence consistent with this argument. Although some of Treas’s hypotheses are well supported when predicting the chance that a Japanese wife has an allowance, the same hypotheses are not supported when predicting the chance that she has a separate bank account.

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