Transactions in a world without monetary incentives : social embeddedness in local exchange networks

Hinz, Thomas; Wagner, Simone

Transactions in a world without monetary incentives : social embeddedness in local exchange networks

Files

ASA_150106_final.pdf(183.49 KB)

Date

2006

Publication type

Working Paper/Technical Report

Abstract

Transactions in exchange relations entail serious risks such as opportunism and free riding for the actors involved. In our paper we focus on problems of cooperation and their efficient handling. We deal with the problem how to prevent opportunistic behavior in the absence of monetary incentives and contractual safeguarding. We study how trust is generated among transaction partners in such situations. Drawing back on empirical evidence on local exchange trading systems we stress the decisive role of social embeddedness for transaction management. What kinds of safeguards are usedwithin such environments to ensure a smooth transaction management? We try to explain the stabilization of those exchange systems referring to the concepts of temporal and structural embeddedness. Finally we are able to show that embeddedness in durable ongoing relations might mitigate the incentives for opportunistic behaviour. Especially in transactions offering many incentives for opportunistic
behavior, social embeddedness is often used as a substitute for contractual safeguards, internal hierarchy and monetary incentives.

Summary in another language

Transaktionen beinhalten für die beteiligten Akteure ernsthafte Risiken in Gestalt von Opportunismus und free riding. In unserem Beitrag setzen wir uns daher mit Kooperationsproblemen und deren effizienter Handhabung auseinander. Konkret geht es hierbei um die Frage, wie opportunistischen Verhaltensweisen jenseits marktwirtschaftlich-monetärer Anreize und vertraglicher Absicherungen vorgebeugt und Vertrauen unter den beteiligten Akteuren hergestellt werden kann. Am Beispiel der Tauschringe zeigen wir auf, welche entscheidende Rolle der sozialen Einbettung bei Transaktionen zukommt. Welche Sicherheitsvorkehrungen werden in diesen Arrangements getroffen, um ihren Bestand und einen reibungslosen Ablauf der Tauschgeschäfte zu gewähren? Mit Hilfe von Überlegungen zur zeitlichen und strukturellen Einbettung wird die Stabilisierung der Austauschnetzwerke erklärt. Eine eigene Erhebung zur Gestaltung von Transaktionen zwischen Tauschringteilnehmern bildet dabei die empirische Basis unserer Untersuchung. Theoretisch wie empirisch können wir letztlich belegen, dass die Einbettung von Transaktionen in dauerhafte Beziehungen das Opportunismuspotential senken und daher gerade in problematischen Transaktionsbeziehungen als Substitut für Verträge und monetäre Anreize herangezogen werden kann.

Subject (DDC)

300 Social Sciences, Sociology

Keywords

soziale Einbettung,social embeddeness

Cite This

ISO 690

HINZ, Thomas, Simone WAGNER, 2006. Transactions in a world without monetary incentives : social embeddedness in local exchange networks

BibTex

@techreport{Hinz2006Trans-11672,
  year={2006},
  title={Transactions in a world without monetary incentives : social embeddedness in local exchange networks},
  author={Hinz, Thomas and Wagner, Simone}
}

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