What is Transaction Cost Economics (TCE)? | From A Business Professor

Have you ever wondered why companies choose to perform certain tasks in-house while outsourcing others? Or how businesses decide the best way to structure transactions to minimize costs? The answer often lies in a theory called Transaction Cost Economics (or TCE). But what exactly is TCE? What components does it include? How does it work, and what are its benefits and challenges? In this video, I’ll explore these questions with you.