Transactions cost and boundary of the firm
This paper presents the basics of the Transaction cost theory (TCT) and shows it's contribution to the Theory of the firm by the view of the new institutional economics. In the first part, author presents resources and presumptions of the TCT mainly by O. E. Williamson. The theory is based on asset specificity. The formal model with the human asset specificity is supposed to reply following questions. Why the firm arise and where is the boundary of the firm? In the second part, the model TCT is extending by knowledge-based explanations of the firm.
Volume (Year): 2008 (2008)
Issue (Month): 3 ()
|Contact details of provider:|| Postal: |
Phone: (02) 24 09 51 11
Fax: (02) 24 22 06 57
Web page: http://www.vse.cz/
More information through EDIRC
|Order Information:|| Postal: Redakce Ekonomika a management, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3|
Web: http://www.vse.cz/eam/ Email:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Williamson, Oliver E, 1973. "Markets and Hierarchies: Some Elementary Considerations," American Economic Review, American Economic Association, vol. 63(2), pages 316-25, May.
- Garrouste, Pierre & Saussier, Stephane, 2005. "Looking for a theory of the firm: Future challenges," Journal of Economic Behavior & Organization, Elsevier, vol. 58(2), pages 178-199, October.
When requesting a correction, please mention this item's handle: RePEc:prg:jnleam:v:2008:y:2008:i:3:id:31. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Vaclav Subrta)
If references are entirely missing, you can add them using this form.