Relationships between Institutional Economics of Cooperation and the Political Economy of Trust

The aim of this paper is to analyse the relationship between institutional economics of cooperation and the political economy of trust. Transactions costs, principal-agent theory, market power, increasing-returns theory and value creation, strategic management: competitive forces, resource-based theory, organisational knowledge and learning, strategic choice theory and collective efficiency theory are reviewed. Lastly, the political economy of trust is sustained.

Keywords:
Cooperation; Institutional economics; Political economy; Trust

Authorship

José G. Vargas-Hernández

Centre for Economic-Administrative Sciences, University of Guadalajara, MexicoUniversity of GuadalajaraMexicoMexicoCentre for Economic-Administrative Sciences, University of Guadalajara, Mexico

SCIMAGO INSTITUTIONS RANKINGS

Centre for Economic-Administrative Sciences, University of Guadalajara, MexicoUniversity of GuadalajaraMexicoMexicoCentre for Economic-Administrative Sciences, University of Guadalajara, Mexico

Figures

Figures (16)

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FIGURE 1
POSITIONING THE UNDERLYING PHILOSOPHIES AND THEORIES RELEVANT TO STRATEGIC ALLIANCE FORMATION

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FIGURE 2
MODES OF COOPERATION OR TRANSACTION COORDINATION MECHANISMS

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FIGURE 3
STRATEGIC INTEGRATION CONTINUUM

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FIGURE 4
THE LOGIC OF ALLIANCE VALUE CREATION

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FIGURE 5
SOME FACTORS SHAPING A FIRM'S CLAIM ON VALUE CREATED BY ITS CONSTELLATION

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FIGURE 6
THE RELATIONSHIP OF SCOPE TO VALUE CREATION LOGIC

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FIGURE 7
VALUE CHAIN ANALYSIS OUTLINE (CARREFOUR)

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FIGURE 8
VALUE CREATION LOGICS AND ALLIANCE MANAGEMENT

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FIGURE 9
FIVE FORCES ANALYSIS

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FIGURE 10
A CONCEPTUAL FRAMEWORK OF RESOURCE DEVELOPMENT AND ENVIRONMENT

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FIGURE 11
THE ROLE OF THE ALLIANCE MANAGER

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FIGURE 12
STRATEGIC TARGET AND COMPETITIVE ADVANTAGE

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FIGURE 13
REGIONAL CLUSTER PROTOTYPES

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FIGURE 2
MODES OF COOPERATION OR TRANSACTION COORDINATION MECHANISMS

Thumbnail

FIGURE 3
STRATEGIC INTEGRATION CONTINUUM

Thumbnail

FIGURE 4
THE LOGIC OF ALLIANCE VALUE CREATION

Thumbnail

FIGURE 5
SOME FACTORS SHAPING A FIRM'S CLAIM ON VALUE CREATED BY ITS CONSTELLATION

Thumbnail

FIGURE 6
THE RELATIONSHIP OF SCOPE TO VALUE CREATION LOGIC

Thumbnail

FIGURE 7
VALUE CHAIN ANALYSIS OUTLINE (CARREFOUR)

Thumbnail

FIGURE 8
VALUE CREATION LOGICS AND ALLIANCE MANAGEMENT

Thumbnail

FIGURE 9
FIVE FORCES ANALYSIS

Thumbnail

FIGURE 10
A CONCEPTUAL FRAMEWORK OF RESOURCE DEVELOPMENT AND ENVIRONMENT

Thumbnail

FIGURE 11
THE ROLE OF THE ALLIANCE MANAGER

Thumbnail

FIGURE 12
STRATEGIC TARGET AND COMPETITIVE ADVANTAGE

Thumbnail

FIGURE 13
REGIONAL CLUSTER PROTOTYPES

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FIGURE 14
MODEL OF TRUST, TRUSTWORTHINESS AND COOPERATION

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FIGURE 15
CLASSIFICATION OF TRANSACTION TYPES USING WILLIAMSON'S CONTRACTING SCHEME

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FIGURE 16
A STYLISED TRUST PROBLEM BASED ON THE ONE-SIDED PRISONER'S DILEMMA

FIGURE 1 POSITIONING THE UNDERLYING PHILOSOPHIES AND THEORIES RELEVANT TO STRATEGIC ALLIANCE FORMATION

FIGURE 2 MODES OF COOPERATION OR TRANSACTION COORDINATION MECHANISMS

FIGURE 3 STRATEGIC INTEGRATION CONTINUUM

FIGURE 4 THE LOGIC OF ALLIANCE VALUE CREATION

Source: Doz and Hamel (1998)Doz, Y. L., and G. Hamel. 1998. Alliance advantage: The art of creating value through partnering. Boston, MA: Harvard Business School Press.

FIGURE 5 SOME FACTORS SHAPING A FIRM'S CLAIM ON VALUE CREATED BY ITS CONSTELLATION

Source: Adapted from Gomes-Casseres (2003)Gomes-Casseres, Benjamín. 2003. Competitive advantage in alliance constellations. Strategic Organization 1 (3): 327-35.

FIGURE 6 THE RELATIONSHIP OF SCOPE TO VALUE CREATION LOGIC

Source: Molevicius (2001)Molevicius, Algis. 2001. Knowledge management in context of strategic alliance creation. Paper presented at Swedish-Lithuanian seminar, University of Boras in Sweden. http://www.hb.se/bhs/seminar/semdoc/molevicius.htm
http://www.hb.se/bhs/seminar/semdoc/mole...

FIGURE 7 VALUE CHAIN ANALYSIS OUTLINE (CARREFOUR)

FIGURE 8 VALUE CREATION LOGICS AND ALLIANCE MANAGEMENT

FIGURE 9 FIVE FORCES ANALYSIS

Source: Porter (1979)Porter, M. E. 1979. The structure within industries and companies’ performance. The Review of Economics and Statistics 6 (1): 214-27.

FIGURE 10 A CONCEPTUAL FRAMEWORK OF RESOURCE DEVELOPMENT AND ENVIRONMENT

Source: beydoun, Abdul, and haibin yang (2003)Beydoun, Abdul, and Haibin Yang. 2003. Resource development and organization task environments. Dallas. School of Management, University of Texas at Dallas. http://cobacourses.creighton.edu/MAM/2004/papers/Beydoun%20and%20Yang.doc
http://cobacourses.creighton.edu/MAM/200...

FIGURE 11 THE ROLE OF THE ALLIANCE MANAGER

Source: Callahan (1999)Callahan, John. 1999. Metrics for strategic alliance control. R&D Management 29 (4): 365-78.

FIGURE 12 STRATEGIC TARGET AND COMPETITIVE ADVANTAGE

Source: www.quickmba.com/strategy/generic.shtml

FIGURE 13 REGIONAL CLUSTER PROTOTYPES

Source: Capello (1999)Capello, R. 1999. Spatial transfer of knowledge in high technology milieux: Learning versus collective learning processes. Regional Studies, no. 33:353-65.; Visser and Boschma (2002)

FIGURE 2 MODES OF COOPERATION OR TRANSACTION COORDINATION MECHANISMS

FIGURE 3 STRATEGIC INTEGRATION CONTINUUM

FIGURE 4 THE LOGIC OF ALLIANCE VALUE CREATION

Source: Doz and Hamel (1998)Doz, Y. L., and G. Hamel. 1998. Alliance advantage: The art of creating value through partnering. Boston, MA: Harvard Business School Press.

FIGURE 5 SOME FACTORS SHAPING A FIRM'S CLAIM ON VALUE CREATED BY ITS CONSTELLATION

Source: Adapted from Gomes-Casseres (2003)Gomes-Casseres, Benjamín. 2003. Competitive advantage in alliance constellations. Strategic Organization 1 (3): 327-35.

FIGURE 6 THE RELATIONSHIP OF SCOPE TO VALUE CREATION LOGIC

FIGURE 7 VALUE CHAIN ANALYSIS OUTLINE (CARREFOUR)

FIGURE 8 VALUE CREATION LOGICS AND ALLIANCE MANAGEMENT

FIGURE 9 FIVE FORCES ANALYSIS

Source: Porter (1979)Porter, M. E. 1979. The structure within industries and companies’ performance. The Review of Economics and Statistics 6 (1): 214-27.

FIGURE 10 A CONCEPTUAL FRAMEWORK OF RESOURCE DEVELOPMENT AND ENVIRONMENT

FIGURE 11 THE ROLE OF THE ALLIANCE MANAGER

Source: Callahan (1999)Callahan, John. 1999. Metrics for strategic alliance control. R&D Management 29 (4): 365-78.

FIGURE 12 STRATEGIC TARGET AND COMPETITIVE ADVANTAGE

Source: www.quickmba.com/strategy/generic.shtml

FIGURE 13 REGIONAL CLUSTER PROTOTYPES

FIGURE 14 MODEL OF TRUST, TRUSTWORTHINESS AND COOPERATION

Source: Farrell and Knight (2004)Farrell, Henry. 2004. Trust, distrust and power. In Distrust, ed. Russell Hardin. New York: Russell Sage Foundation.

FIGURE 15 CLASSIFICATION OF TRANSACTION TYPES USING WILLIAMSON'S CONTRACTING SCHEME

Source: Hirsch and Meyer (2005)Hirsch, Bernhard, and Matthias Meyer. 2005. The trust decision in cooperation viewed from investment theoretic perspectives. Working paper, Otto Beisheim Graduate School of Management, Management Accounting and Management Control, in Vallendar, Germany.

FIGURE 16 A STYLISED TRUST PROBLEM BASED ON THE ONE-SIDED PRISONER'S DILEMMA

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Relationships between Institutional Economics of Cooperation and the Political Economy of Trust

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