Myopic Opportunism and Joint Production: A Relational Approach to Corporate Governance
Myopic Opportunism and Joint Production: A Relational Approach to Corporate Governance
This chapter uses the cognitive psychology notion of ‘framing’ to highlight how profitable cooperation can benefit from a partial suspension of a gain frame. It argues that even when interests are broadly aligned, there is too much room for opportunism in the absence of an alignment of commitment to the relationship, and the suspension of the possibility of its instrumental use. The chapter then focuses on how a perception of transactions as ‘joint production’ can be built through a variety of ‘relational signals’ (credible commitments to the suspension of a calculative propensity to exploit any opportunity of gain even if it would damage the relationship).
Keywords: framing, relational signalling, joint production, opportunism, credible commitments
Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
Please, subscribe or login to access full text content.
If you think you should have access to this title, please contact your librarian.
To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .
