Categorizing transaction costs outcomes under uncertainty: a blockchain perspective for government organizations

Herold, David Martin ORCID: https://orcid.org/0000-0002-4023-2282 and Saberi, Sara and Kouhizadeh, Mahtab and Wilde, Simon (2021) Categorizing transaction costs outcomes under uncertainty: a blockchain perspective for government organizations. Journal of Global Operations and Strategic Sourcing. ISSN 2398-5364

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Abstract

Purpose – The immature nature and the absence of standards in blockchain technology lead to uncertainty in government organizations concerning the adoption (“what to adopt”) and the identification of the right time (“when to start”). In response, the purpose of this paper is to provide theoretical frameworks about the organizational uncertainty behind what and when to adopt blockchain technology and their implications on transaction costs. Design/methodology/approach – Using transaction cost theory and path dependency theory, this paper proposes two frameworks: to assess transaction cost risks and opportunities costs; and to depict fourdifferent types of transaction costs outcomes regarding blockchain adoption. Findings – This paper identifies various theoretical concepts that influence blockchain adoption and combine the two critical constructs of “bounded rationality” and the “lock-in effect” to categorize the multiple transaction costs outcomes for blockchain adoption. Research limitations/implications – Although existing research in blockchain highlights mainly the potential benefits of blockchain applications, only a little attention has been given to frameworks that categorize potential transaction costs outcomes under uncertainty, in particular from organizational theorists. Originality/value – Both frameworks advance the understanding of the decision-making behind blockchain adoption and synthesize the current literature to offer conceptual clarity regarding the varied implications and outcomes linked to the uncertainty regarding transactions costs stemming from blockchain technology.

Item Type: Article
Additional Information: Vol. ahead-of-print No. ahead-of-print
Keywords: Qualitative, Transaction costs, Uncertainty, Bounded rationality, Path dependency, Blockchain, Lock-in effect
Divisions: Departments > Welthandel > Transportwirtschaft und Logistik
Version of the Document: Published
Depositing User: Gertraud Novotny
Date Deposited: 18 Nov 2021 11:51
Last Modified: 18 Nov 2021 11:51
Related URLs:
FIDES Link: https://bach.wu.ac.at/d/research/results/102081/
URI: https://epub.wu.ac.at/id/eprint/8412

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