Theory of the firm and structure of residual rights
Article Abstract:
A model on the theory of the firm based on labor division and a structure of residual rights is developed. The model assumes consumer-producer relations, economies of specialization and transaction costs. Transaction costs are necessary but not sufficient as productivity conditions for ownership structure. Thus, such costs exhibit a tradeoff with economies of specialization.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
Do the economies of specialization justify the work ethics? An examination of Buchanan's hypothesis
Article Abstract:
An interesting hypothesis has been put forth by Buchanan, explaining the prevalence of an ethic, encouraging more work. The validity and significance of this hypothesis are being examined in the Yang-Ng framework of inframarginal analysis. However, the examination reports the significance to be small, in the present world of global trade.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 2003
User Contributions:
Comment about this article or add new information about this topic:
Attitude choice, economic change, and welfare
Article Abstract:
Research is presented describing the study of materialism and social attitudes towards wealth accumulation relating to either high or low income levels.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Bid-ask spreads and the avoidance of odd-eight quotas on Nasdaq: an examination of exchange listings. Why Nasdaq market makers avoid odd-eighth quotes
- Abstracts: The maket structure of broadband telecommunications. The antitrust implications of capacity reallocation by a dominant firm
- Abstracts: The effects of industry structure on economic exposure. Exchange rate exposure, hedging, and the use of foreign currency derivatives
- Abstracts: Heckscher-Ohline revisited: implications of differential population dynamics for trade within an overlapping generations framework
- Abstracts: Returns to contrarian investment strategies: tests of naive expectations hypotheses. Short-sellers, fundamental analysis, and stock returns