Transaction Cost Theory Flashcards
Which of the following statements does best describe transaction cost?
It is the sum of costs incurred along the value chain for producing a product.
It is the cost incurred in producing a good or service.
It is the cost incurred in making any economic trade.
Transaction costs do not depend on the quantity of goods or services produced.
It is the cost incurred in making any economic trade.
Consider a restaurant that offers takeaway lunch packages between 12:00 and 14:00. The workers are exhausted since the packaging requires a lot of manual work and the packages are very popular, so people are waiting in large queues every day. The owner decides to buy a packaging machine that reduces the workload of the workers by 60% for every package. With that, she hopes to reduce the pressure on the employees. What the owner did not expect was that they now can give out the packages faster, which allows them to serve even more people during the available time slot, which results in even more people coming to the restaurant. On average, they have 30% more customers. Furthermore, instead of only one order, every tenth customer now orders two packages, which has never happened before.
Calculate the rebound effect regarding the workload per worker with the following formula:
(Expected reduction - Actual reduction) / Expected reduction)
workload = workload per package * #customers * order per customer
workload reduction = original workload - new workload
original workload: 100% * 1 * 1 = 100%
expected workload reduction: 100 - 100 * 0.4 * 1 * 1 = 60%
actual workload reduction: 100 - 100 * 0.4 * 1.3 * 1.1 = 42.8%
Rebound Effect = (60-42.8)/60 = 28.67%
Die richtige Antwort ist: 28.67
Which of the following statements are true/false regarding business ecosystems according to Fuller, Jacobides, and Reeves?
Business ecosystems can involve networks that are linked by data flows.
The players in ecosystems are in constant competition, and if one develops enough, the others usually perish.
Relationships in ecosystems can be of competitive and collaborative nature.
An advantage of production organized as an ecosystem is that it is more stable than a vertically integrated organization.
Business ecosystems can involve networks that are linked by data flows.: True
The players in ecosystems are in constant competition, and if one develops enough, the others usually perish.: False
Relationships in ecosystems can be of competitive and collaborative nature.: True
An advantage of production organized as an ecosystem is that it is more stable than a vertically integrated organization.: False
Different organizational structures define what kinds of relationships companies can have between their products and consumers. Assign the organizational structures along the spectrum of market fluidity.
vertically integrated/static supply chain/ecosystem/open market
most stable / least fluid
more stable / less fluid
less stable / more fluid
least stable / most fluid
most stable / least fluid
vertically integrated
more stable / less fluid
static supply chain
less stable / more fluid
ecosystem
least stable / most fluid
open market
