Understanding Smart Contracts as a New Option in Transaction Cost Economics
Published: Dec 1, 2019
Abstract
Among different concepts associated with the term blockchain, smart contracts have been a prominent one, especially popularized by the Ethereum platform. In this study, we unpack this concept within the framework of Transaction Cost Economics (TCE). This institutional economics theory emphasizes the role of distinctive (private and public) contract law regimes in shaping firm boundaries. We propose that widespread adoption of the smart contract...
Paper Details
Title
Understanding Smart Contracts as a New Option in Transaction Cost Economics
Published Date
Dec 1, 2019
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