Individualism, Collectivism, and Opportunism: A Cultural Perspective on Transaction Cost Economics
2002 ◽
Vol 28
(4)
◽
pp. 567-583
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Keyword(s):
Researchers criticize the transaction cost economics (TCE) paradigm for over-generalizing the assumption of opportunism as human nature. We suggest that opportunistic propensity is affected by cultural prior conditioning of individualism-collectivism (I-C). Specifically, we propose that individualists have a higher opportunistic propensity in intra-group transactions, and collectivists in inter-group transactions. Our cultural specification of opportunism helps TCE to more effectively accommodate some criticisms and more realistically deal with problems of economic organization in today’s global economy.
1998 ◽
Vol 7
(2)
◽
pp. 89-99
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2007 ◽
Vol 158
(12)
◽
pp. 406-416
1994 ◽
Vol 68
(1)
◽
pp. 7-26
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Keyword(s):