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Kpaxs's profile
Thibaut
Thibaut
Thibaut
@Kpaxs

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Thibaut

@Kpaxs

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Joined June 2009

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    1. Thibaut‏ @Kpaxs 31 Dec 2017

      39/ Transaction cost theory study the cost of economic links and the ways in which people organize to deal with commercial interactions.

      1 reply 2 retweets 25 likes
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    2. Thibaut‏ @Kpaxs 31 Dec 2017

      40/ When the external transactions become less costly than the internal transactions, firms stop growing since it is better for them to buy things from the market than to produce these internally: the cheaper the link, the larger the network.

      1 reply 6 retweets 44 likes
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    3. Thibaut‏ @Kpaxs 31 Dec 2017

      41/ Williamson’s classifies the links (ie transactions) in two axes: by frequency (recurrent and occasional) and specificity (nonspecific to idiosyncratic).

      1 reply 2 retweets 23 likes
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    4. Thibaut‏ @Kpaxs 31 Dec 2017

      42/ Buying coffee is a nonspecific recurrent transaction. Purchasing a home is an occasional and specific interaction. It is easy to understand the difference in term of paperwork and people needed to establish a commercial link.

      1 reply 2 retweets 25 likes
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    5. Thibaut‏ @Kpaxs 31 Dec 2017

      43/ During the last decades the cost of market transactions has fallen due to for examples transportation costs but a as well as emergence of standards.

      1 reply 1 retweet 24 likes
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    6. Thibaut‏ @Kpaxs 31 Dec 2017

      44/ Language is the quintessential standard. While still linguistically fragmented, language allows people to weave networks by empowering them with the ability to communicate complex ideas and coordinate their actions.

      1 reply 3 retweets 37 likes
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    7. Thibaut‏ @Kpaxs 31 Dec 2017

      45/ While those costs decrease, a network of firms is developing, increasing our ability to accumulate knowledge in networks of markets interactions.

      1 reply 1 retweet 24 likes
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    8. Thibaut‏ @Kpaxs 31 Dec 2017

      46/ Nevertheless, links requiring large amount of paperwork and people’s time can be a bureaucratic burden and very costly.

      1 reply 1 retweet 23 likes
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    9. Thibaut‏ @Kpaxs 31 Dec 2017

      47/ Extreme levels of inefficiency can only be supported by organizations whose revenue stream does not depend on their interactions with others. In a government, most of the personbytes available are consumed by internal procedures.

      1 reply 4 retweets 41 likes
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    10. Thibaut‏ @Kpaxs 31 Dec 2017

      48/ Bureaucratic transactions costs (detailed contracts, insurance …) can be significantly reduced with trust. Trust makes links cheaper, allowing networks to grow larger. Trusts is the large networks’ glue.

      3 replies 14 retweets 73 likes
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      Thibaut‏ @Kpaxs Jan 1

      Thibaut Retweeted Thibaut

      That’s why blockchains can be so disruptive. All the trusted intermediaries will become obsolete.https://twitter.com/Kpaxs/status/947517131385688064 …

      Thibaut added,

      Thibaut @Kpaxs
      48/ Bureaucratic transactions costs (detailed contracts, insurance …) can be significantly reduced with trust. Trust makes links cheaper, allowing networks to grow larger. Trusts is the large networks’ glue.
      Show this thread
      9:33 AM - 1 Jan 2018
      • 2 Retweets
      • 2 Likes
      • harscoat Rhys Cassidy divraj
      0 replies 2 retweets 2 likes

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