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Equilibrium, outcomes, and the economics of organization

  • Hubbard, Thomas N.
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    Most empirical work in the economics of organization consists of theory-testing exercises, where the theories under examination rely on optimality principles but not equilibrium. This paper discusses recent attempts to bring equilibrium analysis into the economics of organization, highlighting the types of research questions that researchers can investigate and the evidentiary and analytical inputs necessary in such approaches.

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    File URL: http://www.sciencedirect.com/science/article/B6V8P-4YF5R11-1/2/0d03761fed5a907802b330183f5e27b4
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    Article provided by Elsevier in its journal International Journal of Industrial Organization.

    Volume (Year): 28 (2010)
    Issue (Month): 4 (July)
    Pages: 359-361

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    Handle: RePEc:eee:indorg:v:28:y:2010:i:4:p:359-361
    Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505551

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    1. Luis Garicano & Esteban Rossi-Hansberg, 2005. "Organization and Inequality in a Knowledge Economy," NBER Working Papers 11458, National Bureau of Economic Research, Inc.
    2. Grossman, Sanford J & Hart, Oliver D, 1986. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 691-719, August.
    3. Silke Januszewski Forbes & Mara Lederman, 2009. "Adaptation and Vertical Integration in the Airline Industry," American Economic Review, American Economic Association, vol. 99(5), pages 1831-49, December.
    4. Luis Garicano, 2000. "Hierarchies and the Organization of Knowledge in Production," Journal of Political Economy, University of Chicago Press, vol. 108(5), pages 874-904, October.
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