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Erschienen in:
1996 | OriginalPaper | Buchkapitel
Inside the Black Box: The Variety of Hierarchical Forms
verfasst von : Claude Ménard
Erschienen in: Transaction Cost Economics and Beyond
Verlag: Springer Netherlands
Enthalten in: Professional Book Archive
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The rapidly extending success of transaction cost economics has attracted attention primarily to the decisive role of its concepts in explaining agents’ choices to “make” by themselves, to “buy” through market exchanges, or to enter into transactions through intermediate forms. Because transactions require institutional supports and are costly, there is a continuous trade-off among using the price mechanism, relying on administrative coordination, or having recourse to “hybrid forms.”