Transaction cost theory emerged over 80 years ago yet still continues to exert an important influence on marketing thought. In this article, I examine the past, present and future of this important theory by exploring the work of three of its key scholars: Ronald Coase, Oliver Williamson and Yochai Benkler. This examination provides an overview of each scholar's ideas, a look at their intellectual influences, and an assessment of their impact on marketing scholarship. In addition to this in-depth exploration of transaction cost theory, I also highlight the contextual nature of how theories form, develop and change over time. My hope is that this examination will enrich our understanding of this important theory and suggest how it can be applied to a new set of marketing topics.

Aric Rindfleisch

AMS Review

The AMS Review is positioned to be the premier journal in marketing that focuses exclusively on conceptual contributions across all sub-disciplines of marketing. It publishes articles that advance the development of market and marketing theory.The AMS Review is receptive to different philosophical perspectives and levels of analysis that range from micro to macro. Especially welcome are manuscripts that integrate research and theory from non-marketing disciplines such as management, sociology, economics, psychology, geography, anthropology, or other social sciences. Examples of suitable manuscripts include those incorporating conceptual and organizing frameworks or models, those extending, comparing, or critically evaluating existing theories, and those suggesting new or innovative theories. Comprehensive and integrative syntheses of research literatures (including quantitative and qualitative meta-analyses) are encouraged, as are paradigm-shifting manuscripts.Manuscripts that focus on purely descriptive literature reviews, proselytize research methods or techniques, or report empirical research findings will not be considered for publication.  The AMS Review does not publish manuscripts focusing on practitioner advice or marketing education.

The AMS Review is positioned as the premier journal in marketing, focusing exclusively on conceptual contributions across all sub-disciplines of marketing. It publishes articles that advance the development of market and marketing theory. The AMS Review is open to various philosophical perspectives and levels of analysis, ranging from micro to macro. Manuscripts that integrate research and theory from non-marketing disciplines such as management, sociology, economics, psychology, geography, anthropology, or other social sciences are especially welcome. Suitable manuscripts include those incorporating conceptual and organizing frameworks or models, those extending, comparing, or critically evaluating existing theories, and those suggesting new or innovative theories. Comprehensive and integrative syntheses of research literatures, including quantitative and qualitative meta-analyses, are encouraged, as are paradigm-shifting manuscripts. The AMS Review does not consider manuscripts that focus on purely descriptive literature reviews, promote research methods or techniques, or report empirical research findings. Additionally, it does not publish manuscripts that focus on practitioner advice or marketing education.

《AMS Review》是一本专注于市场营销领域的顶尖期刊，致力于发表所有子学科的概念性贡献。期刊欢迎能够推动市场和营销理论发展的文章，接受不同的哲学视角和分析层面，涵盖从微观到宏观的研究。尤其欢迎那些将非市场学科（如管理学、社会学、经济学、心理学、地理学、人类学或其他社会科学）的研究与理论相结合的手稿。适合的手稿示例包括那些整合概念和组织框架或模型、扩展、比较或批判性评估现有理论的文章，以及提出新颖或创新理论的研究。期刊鼓励全面和综合的研究文献综述（包括定量和定性元分析），以及具有范式转变潜力的手稿。期刊不接受纯描述性文献综述、宣传研究方法或技术，或报告实证研究结果的手稿。《AMS Review》也不发表关注从业者建议或市场营销教育的手稿。

Transaction cost theory: past, present and future

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