5 January 2007 at 12:51 pm Peter G. Klein 1 comment
| Peter Klein |
Law professors are calling this “the best corporate law cartoon ever.” (Click to enlarge.)
Entry filed under: - Klein -, Strategic Management, Theory of the Firm.
Nicolai J. Foss and Peter G. Klein, Organizing Entrepreneurial Judgment: A New Approach to the Firm (Cambridge University Press, 2012).
Peter G. Klein and Micheal E. Sykuta, eds., The Elgar Companion to Transaction Cost Economics (Edward Elgar, 2010).
Peter G. Klein, The Capitalist and the Entrepreneur: Essays on Organizations and Markets (Mises Institute, 2010).
Richard N. Langlois, The Dynamics of Industrial Capitalism: Schumpeter, Chandler, and the New Economy (Routledge, 2007).
Nicolai J. Foss, Strategy, Economic Organization, and the Knowledge Economy: The Coordination of Firms and Resources (Oxford University Press, 2005).
Raghu Garud, Arun Kumaraswamy, and Richard N. Langlois, eds., Managing in the Modular Age: Architectures, Networks and Organizations (Blackwell, 2003).
Nicolai J. Foss and Peter G. Klein, eds., Entrepreneurship and the Firm: Austrian Perspectives on Economic Organization (Elgar, 2002).
Organizations and Markets 
1.
pj | 5 January 2007 at 3:26 pm
As this cartoon illustrates, transaction costs inside the firm may be just as large as transaction costs with outsiders. This is why those who define transaction costs to include only costs of dealing with outsiders are frittering away the core of Ronald Coase’s insight.