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- catalog abstract "Our goal in this paper is to explain the location of transactions (and contracts) in a system of production. Systems of production are engineered systems, and where to place "transactions" characterizing a system of production as a network of tasks that agents perform and transfers of material, energy and information between and among agents. We then argue that whereas transfers between agents are absolutely necessary and ubiquitous in any human-built system of production, transaction costs make it impossible for all transfers to be transactions. The particular transaction costs we are concerned with are the so-called �mundane� costs of creating a transactional interface: the costs of defining what is to be transferred, of counting the transfers, and of valuing and paying for the individual transfers. We go on to argue that the modularity of a system of production determines the system�s pattern of mundane transaction costs. In this fashion, the engineering design of a system of production necessarily establishes (1) where transactions can go; and (2) what types of transactions are feasible and cost-effective in a given location.".
- catalog contributor b12944740.
- catalog contributor b12944741.
- catalog contributor b12944742.
- catalog created "c2002.".
- catalog date "2002".
- catalog date "c2002.".
- catalog dateCopyrighted "c2002.".
- catalog description "Includes bibliographical references.".
- catalog description "Our goal in this paper is to explain the location of transactions (and contracts) in a system of production. Systems of production are engineered systems, and where to place "transactions" characterizing a system of production as a network of tasks that agents perform and transfers of material, energy and information between and among agents. We then argue that whereas transfers between agents are absolutely necessary and ubiquitous in any human-built system of production, transaction costs make it impossible for all transfers to be transactions. The particular transaction costs we are concerned with are the so-called �mundane� costs of creating a transactional interface: the costs of defining what is to be transferred, of counting the transfers, and of valuing and paying for the individual transfers. We go on to argue that the modularity of a system of production determines the system�s pattern of mundane transaction costs. In this fashion, the engineering design of a system of production necessarily establishes (1) where transactions can go; and (2) what types of transactions are feasible and cost-effective in a given location.".
- catalog extent "46 p. :".
- catalog isPartOf "Working paper (Harvard Business School. Division of Research) ; 03-031.".
- catalog isPartOf "Working paper / Division of Research, Harvard Business School ; 03-031".
- catalog issued "2002".
- catalog issued "c2002.".
- catalog language "eng".
- catalog publisher "[Boston] : Division of Research, Harvard Business School,".
- catalog title "Where do transactions come from? : a perspective from engineering design / Carliss Y. Baldwin, Kim B. Clark.".
- catalog type "text".