The Relational View of Economics: A New Research Agenda for the Study of Relational Transactions

Contents
Editors and Contributors
Part I Introduction
Preface
Manifesto for a Relational Economics
	1 Societal Change and Economic Theory
	2 The Case for Relational Economics
	3 Defining the Research Agenda
Part II Economic Theory and Relational Method
Relational Economics: Theoretical Framework and Managerial Implications—A Short Introduction
	1 The Relational Economy as a Self-unfolding Process
		1.1 Phenomena and Theories
		1.2 Processes and Experience
	2 The Relatedness of Relational Transactions
		2.1 Exchanges and Transactions
		2.2 Exchange Transactions and Relational Transactions
	3 The Governance of Self-unfolding Processes
		3.1 Governance and Process
		3.2 Interaction and Functional Equivalence
		3.3 Case Study: Pattern and Structure Formation
	4 The Cooperation Corridor and Relational Rent
		4.1 Cooperation-Economic Opportunities and Organization
		4.2 Triggers and Other Effects
		4.3 Relational Costs and Shared Value Creation
	5 Closing Remarks
	References
Why We Could Need a Relational Economics and Why Standard Economics and Its (Orthodox) Derivations Do not Help
	1 Introduction
	2 Part I: Building Blocks
		2.1 The Complexity Turn in Social Sciences
		2.2 Five Research Streams in Economics, Sociology, and Organization Science
	3 Part II: What RE Should Not Be
		3.1 The Inadequateness of Standard Economics
		3.2 Transaction Cost Economics
		3.3 A View at Some Theoretical Fragments
	4 Conclusions
	References
Modeling Relational Transactions
	1 Introduction
	2 Background and Essential Concepts
		2.1 Relational Transactions
		2.2 Resources of Cooperation and Cooperation Corridors
		2.3 Relations as the Central Problem
	3 Operationalizing Relational Transactions: Modeling
		3.1 The Unit of Analysis: Classifying Transaction Attributes
		3.2 The Elements of the Model
		3.3 Modeling Relational Transactions
		3.4 Resources of Cooperation
		3.5 Cooperation Corridors
		3.6 Transactions and Their Emergence
		3.7 Dynamics Through Strategies
	4 Discussion
		4.1 Limitations and Simplifications
		4.2 Output Analysis
	References
Part III Shared Value Creation and Social Responsibility
Bringing Inspiration from the Past: A Renaissance Manual for Merchants
	1 Introduction
	2 Benedetto Cotrugli and His Book
	3 The “Libro del’arte dela mercatura”
	4 Some Reflections for the Relational Economics Project
	References
Shared Value Statement: New Perspectives on Measuring Business Value Creation
	1 Introduction
	2 Business Value Creation and the Value-Added Statement
	3 Income-Based Theory of Shared Value
	4 Notes on an Income-Based Theory of the Firm
	5 The Shared Value Statement
	6 Concluding Remarks
	References
Managing Global Production Networks: Towards Social Responsibility via Inter-organizational Reliability?
	1 Introduction
	2 Global Production Networks, Their Governance and Management
		2.1 Governance of Global Production Networks
		2.2 Managing (Strategically Led) Global Production Networks
	3 Relating Inter-organizational Reliability and Network Responsibility
	4 Managing and Governing Global Production Networks for Reliability and Responsibility
		4.1 Network Governance for Reliability and Responsibility
		4.2 Network Management for Reliability and Responsibility
	5 Discussion and Conclusion
	References
Incentives, Autonomous Motivation, and Bank Managers’ Socially Responsible Behavior
	1 Introduction
	2 Background
		2.1 Corporate Social Responsibility: From a Firm Perspective to Micro-corporate Social Responsibility
		2.2 Theoretical Framework
		2.3 A Review of Empirical and Experimental Studies on Socially Responsible Behavior
	3 Hypotheses
	4 Study 1
		4.1 Method
		4.2 Measure of Engagement in SRB and Motivation
		4.3 Descriptive Results
		4.4 Multivariate Results
		4.5 Discussion
	5 Study 2
		5.1 Subjects
		5.2 Design of Scenarios
		5.3 Measure of Engagement in SRB and Motivation
		5.4 Descriptive Results
		5.5 Multivariate Results
		5.6 Discussion
	6 Concluding Discussion
	Appendices
	Appendix 1: Vignette Cues Used for the Independent Variables*
	Appendix 2: Descriptions of Alternative SRB Projects*
	Appendix 3: Items Used to Measure Engagement in SRB
	Appendix 4: Items Used to Measure Motivation for SRB in Study 1**
	Appendix 5: Items Used to Measure Motivation for SRB* in Study 2
	References
Part IV Global Value Networks and Relational Contracts
Transcultural Cooperation in Global Networks. A Contribution to the Research Program of Relational Economics
	1 A Relational View on Cooperative Value Creation
	2 Culture as a Resource for Cooperation
	3 Transcultural Learning
	4 From Cultural Capital to Transcultural Commons
	5 Transculturality and Diversity: A Relation—What Else?
	References
Leadership in Multi-stakeholder Partnerships (MSPs) that Address the SDGs: Relational Leadership and Ubuntu in Dialogue
	1 A Introduction: The Importance of Rationality in Addressing the Sustainable Development Goals (SDGs)
	2 Toward a Relational Leadership Approach to Multi-sector Partnerships (MSPs) Addressing the SDGs
	3 A Relational Ontology of Personhood (Ubuntu) and the Macro-level of Multi-sector Partnerships
	4 Relational Leadership and Ubuntu: A Dialogue
		4.1 Questions to Ubuntu from the Perspective of Relational Leadership
		4.2 Questions to Relational Leadership from the Perspective of Relational Ontology
		4.3 Can a Critical Reading of Ubuntu Emerge?
	5 Conclusion: Toward Co-responsibility
	References
Relational Contracting in Practice: A Route to Relational Economics?
	1 Introduction
	2 Why Contracts Matter
	3 Relational Contracts: How They Differ
	4 Relational Contracts: The Benefits
	5 Relational Contracts: Structural Implications
	6 Relational Contracts: Barriers to Adoption and Use
	7 Concluding Remarks
Part V Epistemology and Relational Economics
Relational Processes in Whitehead’s Metaphysics and Commons’ Economics. The Relevance of Cosmology for Economic Theory
	1 Economics of Transaction. The Microanalytical Theory Decision
	2 Natural Ontology and Social Ontology of Actual Transactions. Living in Exactly One, but Complex Universe
	3 Reductive” or “Reductionist? An Important Methodological Difference for Microanalytical Approaches
	4 Cosmological Process Metaphysics. Alfred North Whitehead
		4.1 “Reductive”. A Cosmos of Relational Events
		4.2 Not “Reductionist”. Not Everything in the Physical Cosmos is Physical
	5 Transaction Economics. John R. Commons
		5.1 “Reductive”. An Economy of Relational Transactions
		5.2 Not “Reductionist”. Not Everything in the Economy is Economic
	6 Outro
	References
Relational Money—Working to Define the Conditions of Non-payment
	1 Introduction
	2 John R. Commons’ Transaction Theory of Money
		2.1 Futurity
		2.2 Profit and Interest
		2.3 The Institution of Money and the Monetary Transaction
		2.4 The Valuation Process
	3 The Nexus of Money, Going Concerns, and Banks
		3.1 Forecast and Repetition System(s) Instead of Circulation
		3.2 The Function of Interest as Price
	4 Implications for Relational Economics
		4.1 Discussion of the Implied Concept of Capital
		4.2 Polycontexturality and Money
		4.3 Implications for the Logic of Cooperation
	5 Summary and Outlook
	Literature
Reasons Theoretical Underpinnings, and Core Features of a Novel Paradigm of Acting in Economics
	1 Introduction
	2 The Three Reasons for Seeking a Novel Paradigm of Acting
	3 Some Remarks on the Conceptual Underpinnings
	4 Six Crucial Features of the Novel Paradigm of Acting
Contracts as Cooperation: About an Implicit Ethics of Transactions
	1 Transactions as Bilateral Mutualities
		1.1 Networks and Markets
		1.2 Implicit Ethical and Gift-Economic Implications of the Transaction
	2 Gift-Economic Aspects of the Digital Economy
		2.1 The Gift-Economic Core Process of the Digital Economy
		2.2 Quaternary Allocation: On the Interlocking of Markets and Non-Markets
	3 Coda
	References