Transaction Cost Analysis: Past, Present, and Future Applications essay
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This journal is quite informative because it gives a lot of insightful information on Transaction Coast Analysis (TCA). Through it, the authors reports on the research work done to reveal more about it. A part from explaining this concept, it traces its historical development, roles and the relationships it has had with other relevant disciplines. It goes ahead to focus on its applications, dimensions and validity. All these are very important data which when exploited can create sense to the readers and enable them comprehend this issue much comfortably.
However, the article is criticized for lacking a sound evidence for the arguments presented. The arguments are so shallow and do not contain a lot of explanations. For instance, the writers state that it is related to fields such as political science, corporate finance, sociology, business strategy, contract law and marketing. However, it does not go deeper to explain how it has influenced these disciplines. This leaves a lot of unfilled gaps with a number of questions unanswered. Instead of focusing on the practicality of the subject matter, the paper concentrates on its future applications.
These problems can be solved by creating more time to conduct an extensive research to discover more about TCA. A rigorous study should be carried out to come up with sound evidence enough to give the research its meaning. This is the only way through which the pending questions will be ultimately answered. The paper should not be too futuristic. Otherwise, it should give concrete evidence on the stated facts. He should be realistic and shift from the use of assumptions which may be so misleading. The research should not be based on rumors, but on well researched facts. Thus, it will become valid to give an authoritative report. By doing this, the research will give full information regarding this issue.