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© 2004

Flexibility in Buyer-Seller Relationships

A Transaction Cost Economics Extension based on Real Options Analysis

  • Authors
Book

Part of the Business-to-Business-Marketing book series (BTBM)

About this book

Introduction

In marketing research, industrial buyer-seller relationships are frequently analyzed by Transaction Cost Economics (TCE). The TCE rationale tends to emphasize the benefits of reduced flexibility in relationships. Institutional safeguards are recommended in order to protect against behavioral uncertainty thereby simultaneously reducing flexibility. Nevertheless, this perspective largely disregards the value of greater flexibility in the presence of environmental uncertainty. Due to environmental change, "better" outside options can emerge requiring flexibility to react. Consequently, a flexibility trade-off emerges when relationships are affected by both behavioral and environmental uncertainty.

Ellen Roemer analyzes the flexibility trade-off in buyer-seller relationships. She investigates how relationships should be managed when there is behavioral and environmental uncertainty. TCE, real options analysis, and Austrian economics are used to explore the flexibility trade-off. By extending traditional TCE by real options analysis, an optimum degree of flexibility can be determined.

Keywords

Beziehungen Business-to-Business Flexibiltät Neue Institutionenökonomie Realoptionen Transaktionskosten Transaktionskostentheorie Unsicherheit

About the authors

Dr. Ellen Roemer war wissenschaftliche Assistentin bei Prof. Dr. Mario Rese am Lehrstuhl für Betriebswirtschaftslehre, insb. Marketing, der Universität Paderborn. Sie ist Lecturer in Marketing, School of Management der University of Bradford in England.

Bibliographic information

  • Book Title Flexibility in Buyer-Seller Relationships
  • Book Subtitle A Transaction Cost Economics Extension based on Real Options Analysis
  • Authors Ellen Roemer
  • Series Title Business-to-Business-Marketing
  • DOI https://doi.org/10.1007/978-3-322-81833-1
  • Copyright Information Gabler Verlag | Springer Fachmedien Wiesbaden GmbH, Wiesbaden 2004
  • Publisher Name Deutscher Universitätsverlag
  • eBook Packages Springer Book Archive
  • Softcover ISBN 978-3-8244-8195-8
  • eBook ISBN 978-3-322-81833-1
  • Edition Number 1
  • Number of Pages XIX, 191
  • Number of Illustrations 7 b/w illustrations, 0 illustrations in colour
  • Topics Marketing
  • Buy this book on publisher's site