This article connects theory of learning with theory of governance, in the context of inter-firm relations. It recognizes fundamental criticism of transaction cost economics (TCE), but preserves elements from that theory. Two kinds of relational risk are identified: hold-up and spillover risk. For the governance of relations, i.e. the control of relational risk, the article presents a set of instruments that includes trust, next to instruments adopted and adapted from TCE. It also includes roles for go-betweens. Some references to empirical evidence are included.

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ERIM Report Series Research in Management
Erasmus Research Institute of Management

Nooteboom, B. (2004). Learning And Governance In Inter-Firm Relations (No. ERS-2004-003-ORG). ERIM Report Series Research in Management. Retrieved from