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Title: "Standards Setting Consortia: A Transaction Cost Perspective"
Authors: Nitin Aggarwal
Eric Walden
Source: Proceedings of the 38th Hawaii International Conference on System Sciences
Publication Date: 2005
Free/Fee: Free Access
Reads: 2904
Abstract: Consortiums are highly successful organizational systems for IT standard setting. However, it is not clear what advantages consortiums offer over the traditional approaches to standard-setting. We apply transaction cost economics to examine how and why consortiums are successful for standard-setting. We show that when standards are viewed as bundles of complementary patents, consortiums economize on transaction costs relative to the market. Further consortiums also economize on transaction costs relative to hierarchies, provided coordination costs are relatively lower than other types of transaction costs.
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