Metaphors are part of our daily lives as they help us understand the world. Economics, as other areas of knowledge, cannot go without metaphors. Transaction Cost Economics (TCE) – a prominent theoretical framework on economic organisation – is no different: it has been built on a set of...

Metaphors are part of our daily lives as they help us understand the world. Economics, as with other areas of knowledge, cannot go without metaphors. Transaction Cost Economics (TCE)—a prominent theoretical framework on economic organisation—is no different: it has been built on a set of...