Publisher's Synopsis
This volume examines the concepts of "markets" and "firms" in contemporary economic theory and challenges the notion that markets and firms are neatly separable, polar approaches to economic organizing.
The papers in the volume explore a number of ways in which firms may be seen as composed of internal market processes and in which market transactions may take on characteristics usually associated with the hierarchical coordination of a firm.
The authors of the papers in the volume include leading economic theoreticians like Oliver Williamson, as well as new authors with interesting insights into this issue. An introductory chapter by Ron Sanchez defines the theoretical issues addressed with in the volume and provides a framework for theoretical integration that suggests a new view of the process of economic organizing.
*Authors include leading economic theoreticians and new authors with fresh perspectives
*Reconceptualizes firms and markets by examining their relationship with each other and the interactions therein
