Economic Efficiency of the Organizational Decisions of the Firm

Economic Efficiency of the Organizational Decisions of the Firm

by Ramamohan T.V.S. Rao

Paperback(Softcover reprint of the original 1st ed. 1989)

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Product Details

ISBN-13: 9783540515708
Publisher: Springer Berlin Heidelberg
Publication date: 11/14/1989
Edition description: Softcover reprint of the original 1st ed. 1989
Pages: 227
Product dimensions: 6.69(w) x 9.53(h) x 0.02(d)

Table of Contents

1. The Firm and Its Organization.- 1.1. Market Exchange.- 1.2. Monopolistic Competition.- 1.3. Contractual Relations.- 1.4. Internal Organization.- 1.5. Organizational Design.- 1.6. Nature of the Study.- 2. Welfare and Inefficiency.- 2.1. The Managerial Milieu and Welfare.- 2.2. The Neoclassical Paradigm.- 2.3. The Baumol Firm.- 2.4. External Constraints and Fixed Costs.- 2.5. Discretionary Managerial Behavior.- 2.6. Managerial Inefficiency.- 3. Efficiency of Organizational Decisions.- 3.1. Organization and Welfare.- 3.2. Internal Pressure and Cost.- 3.3. External Pressure and Efficiency.- 3.4. Basic Model.- 3.5. Conditions for Organizational Efficiency.- 3.6. Emergence of Inefficiency.- 3.7. Conclusion.- 4. Quality of Products.- 4.1. The Issues.- 4.2. Durability of Products.- 4.3. Ex Post Demand as Standard.- 4.4. Demand for Quality.- 4.5. Quality Preference and Efficiency.- 4.6. Conclusion.- 5. Search Costs, Advertising and Welfare.- 5.1. The Issues.- 5.2. Conventional Wisdom.- 5.3. Search Costs.- 5.4. Efficiency of Advertising Revisited.- 5.5. Conclusion.- 6. Transaction Costs and Vertical Integration.- 6.1. Vertical Integration and Welfare.- 6.2. Internal and External Pressure.- 6.3. Costs and Efficient Integration.- 6.4. Conditions for Efficiency.- 6.5. Emergence of Inefficiency.- 6.6. Conclusion.- 7. Inventory Decisions.- 7.1. The Basis for Inventory Holding.- 7.2. Impact of Inventories on Welfare.- 7.3. Marginal Concepts.- 7.4. Welfare Maximization.- 7.5. Other Sources of Inefficiency.- 7.6. Multiperiod Generalization.- 7.7. In Retrospect.- 8. Hierarchical Organizations.- 8.1. A Change in Emphasis.- 8.2. Size and Organization.- 8.3. The Basic Model.- 8.4. Choice of the Firm Size.- 8.5. Compliance and Management.- 8.6. Conclusion.- 9. Information, Monitoring and Incentives.- 9.1. The Issues.- 9.2. Basic Response to Information Asymmetry.- 9.3. Welfare Maximization.- 9.4. Budgets and Contracting.- 9.5. Monitoring the Group.- 9.6. Incentives and Organizational Behavior.- 9.7. Conclusion.- 10. In Retrospect.- 10.1. Technical Inefficiency Revisited.- 10.2. Economic Inefficiency Revisited.- 10.3. Other Conceptual Problems.

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