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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- 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.
- Armen A. Alchian & Harold Demsetz, 1971. "Production, Information Costs and Economic Organizations," UCLA Economics Working Papers 10A, UCLA Department of Economics.
- 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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