Skip to content Skip to navigation
University of Warwick
  • Study
  • |
  • Research
  • |
  • Business
  • |
  • Alumni
  • |
  • News
  • |
  • About

University of Warwick
Publications service & WRAP

Highlight your research

  • WRAP
    • Home
    • Search WRAP
    • Browse by Warwick Author
    • Browse WRAP by Year
    • Browse WRAP by Subject
    • Browse WRAP by Department
    • Browse WRAP by Funder
    • Browse Theses by Department
  • Publications Service
    • Home
    • Search Publications Service
    • Browse by Warwick Author
    • Browse Publications service by Year
    • Browse Publications service by Subject
    • Browse Publications service by Department
    • Browse Publications service by Funder
  • Help & Advice
University of Warwick

The Library

  • Login
  • Admin

Understanding smart contracts as a new option in transaction cost economics

Tools
- Tools
+ Tools

Halaburda, Hanna, Levina, Natalia and Semi, Min (2019) Understanding smart contracts as a new option in transaction cost economics. In: Fortieth International Conference on Information Systems, Munich, Germany, 15-18 Dec 2020. Published in: ICIS 2019 Proceedings ISBN 9780996683197.

[img]
Preview
PDF
WRAP-understanding-smart-contracts-new-option-transaction-cost-economics-Levina-2019.pdf - Accepted Version - Requires a PDF viewer.

Download (869Kb) | Preview
Official URL: https://aisel.aisnet.org/icis2019/blockchain_finte...

Request Changes to record.

Abstract

Among different concepts associated with the term blockchain, smart contracts have been a prominent one, especially popularized by the Ethereum platform. In this study, we unpack this concept within the framework of Transaction Cost Economics (TCE). This institutional economics theory emphasizes the role of distinctive (private and public) contract law regimes in shaping firm boundaries. We propose that widespread adoption of the smart contract concept creates a new option in public contracting, which may give rise to a smart-contract-augmented contract law regime. We discuss tradeoffs involved in the attractiveness of the smart contract concept for firms and the resulting potential for change in firm boundaries. Based on our new conceptualization, we discuss potential roles the three branches of government – judicial, executive, and legislative – in enabling and using this new contract law regime. We conclude the paper by pointing out limitations of the TCE perspective and suggesting future research directions.

Item Type: Conference Item (Paper)
Subjects: Q Science > QA Mathematics > QA76 Electronic computers. Computer science. Computer software
Divisions: Faculty of Social Sciences > Warwick Business School > Information Systems & Management
Faculty of Social Sciences > Warwick Business School
Library of Congress Subject Headings (LCSH): Blockchains (Databases) -- Economic aspects, Blockchains (Databases) -- Law and legislation, Contracting out, Blockchains (Databases) -- Government policy, Transaction costs, Industrial organization (Economic theory), Electronic funds transfers -- Law and legislation
Journal or Publication Title: ICIS 2019 Proceedings
Publisher: Association for Information Systems (AIS)
ISBN: 9780996683197
Official Date: December 2019
Dates:
DateEvent
December 2019Published
10 January 2019Accepted
Date of first compliant deposit: 11 May 2020
Publication Status: Published
Access rights to Published version: Restricted or Subscription Access
Conference Paper Type: Paper
Title of Event: Fortieth International Conference on Information Systems
Type of Event: Conference
Location of Event: Munich, Germany
Date(s) of Event: 15-18 Dec 2020
Related URLs:
  • Organisation
Open Access Version:
  • SSRN

Request changes or add full text files to a record

Repository staff actions (login required)

View Item View Item

Downloads

Downloads per month over past year

View more statistics

twitter

Email us: wrap@warwick.ac.uk
Contact Details
About Us