The Economics of Transaction Costs

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Transaction cost economics began to take shape around thirty years ago and has since been established as an essential tool to illuminate a wide range of problems in economics and other social sciences. This paperback reader presents, in a convenient and accessible form, the articles which form the foundations of research in transaction cost economics.
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Product Details

  • ISBN-13: 9781858989501
  • Publisher: Elgar, Edward Publishing, Inc.
  • Publication date: 4/28/1999
  • Series: Elgar Reference Collection
  • Pages: 560
  • Product dimensions: 6.60 (w) x 9.60 (h) x 1.60 (d)

Table of Contents

1 The Nature of the Firm 3
2 The Vertical Integration of Production: Market Failure Considerations 23
3 Production, Information Costs, and Economic Organization 35
4 Industrial Organization: A Proposal for Research 54
5 Vertical Integration, Appropriable Rents, and the Competitive Contracting Process 71
6 Comparative Economic Organization: The Analysis of Discrete Structural Alternatives 101
7 Credible Commitments: Using Hostages to Support Exchange 129
8 The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration 151
9 The Limits of Firms: Incentive and Bureaucratic Features 180
10 Multitask Principal-Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design 214
11 Integration of the Sales Force: An Empirical Examination 245
12 The Costs of Organization 256
13 Contract Duration and Relationship-Specific Investments: Empirical Evidence from Coal Markets 281
14 Contracts and Specific Investment: An Empirical Test of Transaction Cost Theory 299
15 Quantity and Price Adjustment in Long-Term Contracts: A Case Study of Petroleum Coke 321
16 Efficient Adaptation in Long-Term Contracts: Take-or-Pay Provisions for Natural Gas 351
17 The Economics of Block Booking 362
18 Franchise Bidding for Natural Monopolies - in General and with Respect to CATV 406
19 Regulation and Administered Contracts 438
20 The Institutional Foundations of Regulatory Commitment: A Comparative Analysis of Telecommunications Regulation 461
21 The Industrial Organization of Congress; or, Why Legislatures, Like Firms, Are Not Organized as Markets 498
Name Index 531
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