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Note---Modeling Coordination in Organizations and Markets

Author

Listed:
  • Neil B. Niman

    (The Whittemore School of Business and Economics, University of New Hampshire, Durham, New Hampshire 03824)

Abstract

In an earlier issue of Management Science, Thomas Malone (1987) utilizes the concept of vulnerability costs in order to compare the degree of flexibility exhibited by markets and hierarchies. The purpose of this note is to redefine the concept of vulnerability to include the corresponding opportunity costs that are created when a coordinating structure restricts the ability to adjust to a change in market conditions. The conclusion reached is that those structures experiencing the lowest opportunity costs are the least vulnerable, and can therefore be classified as the most flexible.

Suggested Citation

  • Neil B. Niman, 1992. "Note---Modeling Coordination in Organizations and Markets," Management Science, INFORMS, vol. 38(12), pages 1819-1826, December.
    • Handle: RePEc:inm:ormnsc:v:38:y:1992:i:12:p:1819-1826
    DOI: 10.1287/mnsc.38.12.1819
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