The Library
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.
|
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...
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: |
|
||||||
| 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: | |||||||
| Open Access Version: |
Request changes or add full text files to a record
Repository staff actions (login required)
 |
View Item |
Downloads
Downloads per month over past year
