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Published (Version of record)CC BY V4.0, Open Access
Published (Version of record)CC BY V4.0, Open
Journal article
Categorizing transaction costs outcomes under uncertainty: a blockchain perspective for government organizations
Journal of Global Operations and Strategic Sourcing, Vol.18(2), pp.217-231
05/08/2022
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Abstract
Purpose - 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. 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”).
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 four different 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.
Details
- Title
- Categorizing transaction costs outcomes under uncertainty: a blockchain perspective for government organizations
- Creators
- David M Herold - Vienna University of Economics and BusinessSara Saberi - Worcester Polytechnic InstituteMahtab Kouhizadeh - University of Rhode IslandSimon Wilde - Southern Cross University
- Publication Details
- Journal of Global Operations and Strategic Sourcing, Vol.18(2), pp.217-231
- Publisher
- Emerald Publishing Limited
- Identifiers
- 991012982357502368
- Copyright
- © David M. Herold, Sara Saberi, Mahtab Kouhizadeh and Simon Wilde. Published by Emerald Publishing Limited. This article is published under the Creative Commons Attribution (CC BY 4.0) licence. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this licence may be seen at http://creativecommons.org/licences/by/4.0/legalcode
- Academic Unit
- Management; Faculty of Business, Law and Arts
- Language
- English
- Resource Type
- Journal article