Bylund on Coasean Transaction Costs

Per Bylund recently published “Signifying Williamson’s Contribution to the Transaction Cost Approach: An Agent-Based Simulation of Coasean Transaction Costs and Specialization” in the Journal of Management Studies. Bylund writes: “It is a simulation test of Coase’s transaction cost approach using agent-based modeling, and what I do is basically show that transaction costs have no explanatory power – but specialization and the division of labor does.”