Difference between revisions of "Alchian Demsetz (1972) - Production Information Costs And Economic Organization"

From edegan.com
Jump to navigation Jump to search
 
(One intermediate revision by one other user not shown)
Line 1: Line 1:
 
{{Article
 
{{Article
 
|Has page=Alchian Demsetz (1972) - Production Information Costs And Economic Organization
 
|Has page=Alchian Demsetz (1972) - Production Information Costs And Economic Organization
|Has title=Production Information Costs And Economic Organization
+
|Has bibtex key=
|Has author=
+
|Has article title=Production Information Costs And Economic Organization
 +
|Has author=Alchian Demsetz
 
|Has year=1972
 
|Has year=1972
 
|In journal=
 
|In journal=

Latest revision as of 19:14, 29 September 2020

Article
Has bibtex key
Has article title Production Information Costs And Economic Organization
Has author Alchian Demsetz
Has year 1972
In journal
In volume
In number
Has pages
Has publisher
© edegan.com, 2016

Reference(s)

Alchian, Armen A. and Harold Demsetz (1972), "Production, Information Costs, and Economic Organization", The American Economic Review, Vol. 62, No. 5. (Dec.), pp. 777-795 pdf

Abstract

The mark of a capitalistic society is that resources are owned and allocated by such nongovernmental organizations as firms, households, and markets. Resource owners increase productivity through cooperative specialization and this leads to the demand for economic organizations which facilitate cooperation. When a lumber mill employs a cabinetmaker, cooperation between specialists is achieved within a firm, and when a cabinetmaker purchases wood from a lumberman, the cooperation takes place across markets (or between firms). Two important problems face a theory of economic organization - to explain the conditions that determine whether the gains from specialization and cooperative production can better be obtained within an organization like the firm, or across markets, and to explain the structure of the organization.