search query: @author Alchian, A. A. / total: 3
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| Author: | Alchian, A. A. |
| Title: | Thoughts of the Theory of the Firm: A Tribute to Eirik G. Furubotn ! Eirik G. Furubotn |
| Journal: | Journal of Institutional and Theoretical Economics
1993 : JUN, VOL. 149, p. 365-369 |
| Index terms: | FIRM (THEORY OF) PRIVATE SECTOR STRUCTURAL ANALYSIS |
| Language: | eng |
| Abstract: | Eric Furubotn enabled much to be published about the structure, allocation and partitioning of private property rights in various organizations called "firms". In this brief token of tribute to Erik Furubotn the author expresses a few thoughts and conjectures that may stimulate others to work in a similar direction. The author argues that the firm is a set of separately owned resources working as a team. It does not exist to reduce costs of transactions in the kind of cooperation via exchange explored by Smith. The firms exist because they are teams, hence, firms exist because teamwork is more productive. |
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