The focus of the programme is on how a transaction economy like the Netherlands can maintain and expand its comparative advantage in trade and orchestrating production by reducing transaction costs. This value creation in trade transactions is investigated both at the level of the firm in practical case studies as well as at a more macro and theoretical level. The programme seeks to acquire knowledge on the driving forces for value creation in trade and for location decisions, from the perspective of transaction costs. How can business and national economies obtain a clear understanding of transaction costs and their effects on trade patterns and value chains? And how can knowledge about this be made instrumental for strategic decisions at the firm level and for trade and innovation policy at the country level, in order to reduce transaction costs and become more successful in trade?
'Transaction management is not another management tool but a new approach, rooted in up to date economic theory, to enhance the efficiency of transactions'
The programme consists of a number of projects, which all have a specific research question which fits into the general theme of the programme. All projects have been set up on behalf of, and in co-operation with, the parties financing the programme. Programme members conducting the various projects, regularly meet and discuss their findings in workshops. They also give seminars for academic students and contribute to specialists' courses.
Knowledge on value creation through transactions in the era of globalization