A transaction cost economics explanation of buyer-seller relationships Analysis of flexibility in buyer-seller relationships from a transaction cost economics perspective Rational flexibility in buyer-seller relationships - A real options approach Real flexibility in buyer-seller relationships -...

We suggest that a customer's option to switch suppliers, and to wait and see before switching, adds to customer value in uncertain markets, and affects the customer's switching behavior. We use a real options model to examine the value of this option and conduct sensitivity analyses based on...