Title: Reference Points and the Theory of the Firm
Abstract: In this article I argue that it has been hard to make progress on Coase's theory of the firm agenda because of the difficulty of formalizing haggling costs. I propose an approach that tries to move things forward using the idea of aggrievement costs, and apply it to the question of whether a transaction should be placed inside a firm (in-house production) or in the market place (outsourcing).
Publication Year: 2007
Publication Date: 2007-10-01
Language: en
Type: article
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Cited By Count: 5
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