search query: @author Whinston, M. D. / total: 2
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| Author: | Whinston, M. D. |
| Title: | Assessing the Property Rights and Transaction-Cost Theories of Firm Scope |
| Journal: | American Economic Review
2001 : MAY, VOL. 91:2, p. 184-188 |
| Index terms: | PROPERTY RIGHTS TRANSACTION COSTS THEORIES |
| Language: | eng |
| Abstract: | At the beginning of this paper the author considers different sources on the theme of transaction-cost theory and firm scope. Further the author considers the alternative theory of firm scope, the property rights theory and compares it to transaction-cost theory. Then the author examines the PRT's predictions and show that these differ in significant ways from those of the TCE. Moreover, the author argues that the literature empirically testing the TCE is not very useful for assessing the PRT. The author summarizes these arguments below. Then, the author discuss how this analysis suggests not only how one might test the PRT, but also how one may conduct more stringent tests of the TCE than those that have been performed so far. |
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