Transaction Cost Economics and Beyond Toward a New Economics of the Firm [Paperback]

In recent years transaction costs economics have come to dominate the discussion of the nature and organization of firms. In Transaction Costs Economics and BeyondMichael Driscoll offers a critical exploration of transaction costs. He argues that whilst they have much to offer they are still an inadequate basis for a general theory of the firm. Drawing on theories of organizational behaviour as well as economics, he concludes by offering a theory of the firm that allows for both hierarchical and creative decision making.