Opportunism

From Geography

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Opportunism is one of the three most important sources of transaction costs. These sources are; asymmetric information, asset specificity and opportunism. With opportunism strategic thinking and guile in exchanges is possible (Williamson, 1975). Opportunism means that parties (for example companies) just are going for their own gains (Sager, 2006), people can lie, cheat, steel et cetera to gain for themselves. Therefore you can’t just trust anybody during transactions for instance.

Opportunism is thus the exploiting circumstances in self-interest. Especially without taking the moral principles or the interest of others into account.

References

Sager, T. (2006). The logic of critical communicative planning: transaction cost alteration. Planning theory. Vol. 5(3): 223-254.

Wathne, K.H. & Heide, J.B. (2000). Opportunism in Interfirm Relationschips: Forms, Outcomes and Soluntions. Journal of marketing.

Williamson, O. (1975). Markets and Hierarchies. Free Press. p. 20-30.

Contributor

Page published by Renate van Haaren, --RenateVanHaaren 20:35, 16 October 2012 (CEST)