Hierarchy (Institutions)
Description:
Model of institutions and market as a possible form of organization to coordinate economic transactions. When the external transaction costs are higher than the internal transaction costs, the company will grow. If the internal transaction costs are lower than the external costs the company will shrink, for example, by outsourcing. (Image courtesy of Achim Grochowski.)
file
23 kB
Hierarchy (Institutions)
Course Info
Instructors
Departments
As Taught In
Spring
2009
Level
Topics
Learning Resource Types
assignment
Written Assignments
