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This paper discusses the dynamics of Transaction Cost (TC) in IndustrialSymbiosis Institutions (ISI) and provides a fair and stable mechanism for TCallocation among the involved firms in a given ISI. In principle, industrialsymbiosis, as an implementation of the circular economy paradigm in the contextof industrial relation, is a practice aiming at reducing the material/energyfootprint of the firm. The well-engineered form of this practice is proved todecrease the transaction costs at a collective level. This can be achievedusing information systems for: identifying potential synergies, evaluatingmutually beneficial ones, implementing the contracts, and governing thebehavior of the established relations. Then the question is "how to distributethe costs for maintaining such an information system in a fair and stablemanner?" We see such a cost as a collective transaction cost and employ anintegrated method rooted in cooperative game theory and multiagent systemsresearch to develop a fair and stable allocation mechanism for it. The noveltyis twofold: in developing analytical multiagent methods for capturing thedynamics of transaction costs in industrial symbiosis and in presenting a novelgame-theoretic mechanism for its allocation in industrial symbiosisinstitutions. While the former contributes to the theories of industrialsymbiosis (methodological contribution), the latter supports decision makersaiming to specify fair and stable industrial symbiosis contracts (practicalcontribution).

Dynamics and Allocation of Transaction Cost in Multiagent Industrial Symbiosis