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2020 | OriginalPaper | Chapter

11. Relational Costs and the Logic of Relational Economics

Author : Josef Wieland

Published in: Relational Economics

Publisher: Springer International Publishing

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Abstract

The creation of cooperation corridors through specific investments by the collaborating partners is associated with costs, which in turn are compensated by the income from the cooperation. In addition to the familiar transaction costs, these include adjustment costs, cooperation costs and relational costs. Finally, determining the relationship between cooperation rents and corridors leads to a scheme of relational value creation that distinguishes between entrepreneurial teams and stakeholder networks. Modern societies must manage the trade-offs between cooperation costs and cooperation opportunities if they are to utilise the growth potential of global value creation.

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Title: Relational Costs and the Logic of Relational Economics
Author: Josef Wieland
Publisher: Springer International Publishing
Book: Relational Economics
Print ISBN: 978-3-030-45111-0

Electronic ISBN: 978-3-030-45112-7

Copyright Year: 2020
DOI: https://doi.org/10.1007/978-3-030-45112-7_11