Economica Coase Lecture Reference Points and the Theory of the Firm
I argue that it has been hard to make progress on Coase's theory of the firm agenda because of the difficulty of formalizing haggling costs. I propose an approach that tries to move things forward using the idea of aggrievement costs, and apply it to the question of whether a transaction should be placed inside a firm (in-house production) or in the market place (outsourcing). Copyright (c) The London School of Economics and Political Science 2008.
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Volume (Year): 75 (2008)
Issue (Month): 299 (08)
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