The Firm in the Context of the Theory of Transaction Costs
The modern firm is discussed from the viewpoint of R. Cose’s theory of transaction costs. The issue of management and price mechanism as alternative methods of allocating economic resources is analyzed. The company growth limits are defined and the nature of transaction costs is given, utilizing a wide range of bibliography. It is in transaction costs levels that barriers to exchange in most countries of Eastern Europe are sought.
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Volume (Year): (2004)
Issue (Month): 1 ()
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- János Kornai, 1994. "Highway and Byways: Studies on Reform and Postcommunist Transition," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262111985, December.
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- Barzel,Yoram, 1997. "Economic Analysis of Property Rights," Cambridge Books, Cambridge University Press, number 9780521597135.
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- 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.
- Dahlman, Carl J, 1979. "The Problem of Externality," Journal of Law and Economics, University of Chicago Press, vol. 22(1), pages 141-62, April.
- Winiecki, Jan, 1990. "Why Economic Reforms Fail in the Soviet System--A Property Rights-Based Approach," Economic Inquiry, Western Economic Association International, vol. 28(2), pages 195-221, April.
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