IDEAS home Printed from https://ideas.repec.org/a/taf/bushst/v39y1997i4p151-171.html
   My bibliography  Save this article

Institutional Economics and Business History: A Way Forward?

Author

Listed:
  • Mark Casson

Abstract

Analytical business history requires a synthesis of theories of transaction cost, entrepreneurship and firm-specific competence. These theories can be integrated using the concept of information cost. Economies of information cost explain the emergence of market-making intermediation in capitalist economies. Economists have been so preoccupied with production that they have ignored the role of market-making intermediation, despite the fact that market-making intermediation has a crucial impact on the strategy and organisation of the firm. This essay charts the historical emergence of market-making intermediation, and analyses its effects using a diagrammatic technique specially developed for this purpose. It is suggested that the concept of information cost, and the techniques of analysis allied with it, offer a useful way forward for business historians.

Suggested Citation

  • Mark Casson, 1997. "Institutional Economics and Business History: A Way Forward?," Business History, Taylor & Francis Journals, vol. 39(4), pages 151-171.
  • Handle: RePEc:taf:bushst:v:39:y:1997:i:4:p:151-171
    DOI: 10.1080/00076799700000150
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/00076799700000150
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Howells, Jeremy, 2006. "Intermediation and the role of intermediaries in innovation," Research Policy, Elsevier, vol. 35(5), pages 715-728, June.
    2. Magnus Lindmark & Lars-Fredrik Andersson & Mike Adams, 2006. "The Evolution and Development of the Swedish Insurance Market," Accounting History Review, Taylor & Francis Journals, vol. 16(3), pages 341-370.
    3. Buckley, Peter J., 2009. "The impact of the global factory on economic development," Journal of World Business, Elsevier, vol. 44(2), pages 131-143, April.
    4. Maixe-Altes, J. Carles, 2011. "Governance in Spanish Savings Banks. A Historical Perspective," MPRA Paper 29535, University Library of Munich, Germany.
    5. Lepore, Amedeo, 2012. "New research methods of business history," MPRA Paper 36952, University Library of Munich, Germany.
    6. Toms, Steven, 2017. "Network preferences and the growth of the British cotton textile industry, c.1780-1914," MPRA Paper 80058, University Library of Munich, Germany.
    7. repec:eee:iburev:v:26:y:2017:i:3:p:461-475 is not listed on IDEAS

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:bushst:v:39:y:1997:i:4:p:151-171. 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: (Chris Longhurst). General contact details of provider: http://www.tandfonline.com/FBSH20 .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.