On a theory of software engineering a proposal based on transaction cost economics

This article leverages the findings of the transaction cost economics field, and proposes a simple theory and associated vocabulary to serve as a foundation for a unified theory of software engineering. It characterizes software engineering as a set of transactions organized under three governance structures. The theory explains the strengths and weaknesses of these governance structures in relation to asset specificity. It takes into account the recursive nature of the notions in software engineering, and applies uniformly to various contexts at different levels of granularity. The theory not only provides an explanatory framework for some of the propositions given in the software engineering literature, but also reveals the boundaries of their applicability.