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Consistency in Organization

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  • Schlicht, Ekkehart

    ()
    (University of Munich)

Abstract

Recent thinking has emphasized the importance of consistency in a firm’s compensation policy. By starting from Williamson’s ideas about idiosyncratic exchange, this view can be supplied with some theoretical foundation. At the same time, the consistency view can be applied to a number of organizational issues. It sheds new light on some Williamsonian themes, like the boundaries of the firm or the attenuation of incentives within firms.

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File URL: http://ftp.iza.org/dp718.pdf
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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 718.

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Length: 24 pages
Date of creation: Feb 2003
Date of revision:
Handle: RePEc:iza:izadps:dp718

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Related research

Keywords: attenuation of incentives; Williamson's puzzle; theory of the firm; command; routines; centralization paradox;

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References

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  1. Schlicht, Ekkehart, 1998. "On Custom in the Economy," OUP Catalogue, Oxford University Press, number 9780198292241.
  2. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
  3. Clark, Gregory, 1984. "Authority and Efficiency: The Labor Market and the Managerial Revolution of the Late Nineteenth Century," The Journal of Economic History, Cambridge University Press, vol. 44(04), pages 1069-1083, December.
  4. R. Isaac & Deborah Mathieu & Edward Zajac, 1991. "Institutional framing and perceptions of fairness," Constitutional Political Economy, Springer, vol. 2(3), pages 329-370, September.
  5. Alchian, Armen A & Demsetz, Harold, 1972. "Production , Information Costs, and Economic Organization," American Economic Review, American Economic Association, vol. 62(5), pages 777-95, December.
  6. Fehr, Ernst & Gächter, Simon, 2001. "Do Incentive Contracts Crowd Out Voluntary Cooperation?," CEPR Discussion Papers 3017, C.E.P.R. Discussion Papers.
  7. Coase, R H, 1978. "Economics and Biology: Evolution, Selection, and the Economic Principle: Discussion," American Economic Review, American Economic Association, vol. 68(2), pages 244-45, May.
  8. Moore, John, 1992. "The firm as a collection of assets," European Economic Review, Elsevier, vol. 36(2-3), pages 493-507, April.
  9. Frank, Robert H, 1984. "Are Workers Paid Their Marginal Products?," American Economic Review, American Economic Association, vol. 74(4), pages 549-71, September.
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Cited by:
  1. Aidan Walsh, 2011. "Learning from pondlife and fishermen: towards a modular financial services industry," Journal of Financial Regulation and Compliance, Emerald Group Publishing, vol. 19(4), pages 312-322, November.

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