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OverviewTransaction cost economics have come to dominate discussions about the nature of the firm. In this critical analysis of the transaction cost paradigm, Michael Dietrich argues that whilst it offers some vital insights, the transaction cost approach is an inadequate basis for a general theory of the firm. Beginning with an overview of transaction costs, it outlines both the advantages and the disadvantages of the approach. Assuming that the organization of the firm is static, transaction cost economics is least effective in explaining the dynamic aspects of firms' behaviour. However, rather than rejecting the whole approach on these grounds, Michael Dietrich looks at ways in which the theory can be enlarged and its explanatory power increased. Considering such recent innovations as total quality control and just-in-time management the book presents a vision of the firm in which decision making can be both hierarchical and creative. The implications of this for business policy are assessed. Full Product DetailsAuthor: Michael Dietrich (University of Sheffield, UK)Publisher: Taylor & Francis Ltd Imprint: Routledge Dimensions: Width: 15.20cm , Height: 1.70cm , Length: 22.90cm Weight: 0.476kg ISBN: 9780415071550ISBN 10: 0415071550 Pages: 226 Publication Date: 10 March 1994 Audience: College/higher education , General/trade , Tertiary & Higher Education , General Format: Hardback Publisher's Status: Active Availability: In Print  This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us. Table of ContentsReviewsAuthor InformationMichael Dietrich lectures in economics and business policy at Sheffield University Management School. He has published papers and articles in areas such as the organisation of the firm and corporate restructuring in Europe. He is joint editor (with Ash Amin) of Towards a new Europe? Tab Content 6Author Website:Countries AvailableAll regions |
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