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The Firm in the Context of the Theory of Transaction Costs

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  • Tamara Todorova

Abstract

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.

Suggested Citation

  • Tamara Todorova, 2004. "The Firm in the Context of the Theory of Transaction Costs," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 55-74.
  • Handle: RePEc:bas:econth:y:2004:i:1:p:55-74
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    References listed on IDEAS

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    1. Alchian, Armen A & Demsetz, Harold, 1972. "Production , Information Costs, and Economic Organization," American Economic Review, American Economic Association, vol. 62(5), pages 777-795, December.
    2. Dahlman, Carl J, 1979. "The Problem of Externality," Journal of Law and Economics, University of Chicago Press, vol. 22(1), pages 141-162, April.
    3. 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.
    4. János Kornai, 1994. "Highway and Byways: Studies on Reform and Postcommunist Transition," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262111985, January.
    5. 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.
    6. Barzel,Yoram, 1997. "Economic Analysis of Property Rights," Cambridge Books, Cambridge University Press, number 9780521597135, May.
    7. Eggertsson,Thrainn, 1990. "Economic Behavior and Institutions," Cambridge Books, Cambridge University Press, number 9780521348911, May.
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    Citations

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    Cited by:

    1. Sedlarski, Teodor & Ankova, Iliana, 2010. "Възможност За Счетоводно Отчитане На Транзакционните Разходи В Предприятията
      [A Possible Way to Estimate Transaction Costs Through the Firm's Accounting System]
      ," MPRA Paper 52428, University Library of Munich, Germany.
    2. Atanas Leonidov, 2006. "Endogenous Theory of Growth and Main Economic Schools," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 38-70.

    More about this item

    JEL classification:

    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory

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