Lukasz Hardt - An inquiry into the explanatory virtues of transaction cost economics

jpe:10618 - Journal of Philosophical Economics, November 20, 2011, Volume V Issue 1 -
An inquiry into the explanatory virtues of transaction cost economicsArticle

Authors: Lukasz Hardt 1

The aim of this paper is twofold. First, we offer a methodological reflection on how the explanatory virtues of economic theories can be assessed in a systematic way. Second, we use that theoretical apparatus to study the explanatory virtues of Transaction Cost Economics (TCE, henceforth). Precisely, we are primarily interested in assessing the progress within TCE with respect to its explanatory power rather than directly comparing TCE's explanatory virtues to alternative theories. The paper offers also some general insights into the way we compare economic theories.

Volume: Volume V Issue 1
Section: Articles
Published on: November 20, 2011
Imported on: December 28, 2022
Keywords: Oliver Williamson,explanatory power,[SHS]Humanities and Social Sciences

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