Year: 2008
Type: article
Abstract: 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).
Source: Economica
Author: OLIVER HART
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: bronze
Funder: National Science Foundation
OpenAlex ID: W1985778647