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The paper deals with development of a general theory of the firm. It discusses the demand for such a theory, reviews existing approaches to its generalization, and offers a new variant of general theory of the firm based on the contract theory. The theory is based on minimization of...
Persistent link: https://www.econbiz.de/10010860817
This paper reviews a range of issues relating to tradable carbon dioxide quotas. It considers the economic principles on which they are based, compares them with alternative carbon abatement policies, and reviews many aspects of how tradable quotas would be implemented in practice.
Persistent link: https://www.econbiz.de/10005622074
The Coasean theory of the firm (Coase, 1937) has flourished with the theory of incomplete contracts. Transaction costs … (Coase, 1960). As firm’s activities entail both contractual and property rights, these two domains interfere each other on …
Persistent link: https://www.econbiz.de/10010552851
The two major contributions of Ronald Coase, written at distant points of his long life, have been often interpreted as …
Persistent link: https://www.econbiz.de/10010552856
Persistent link: https://www.econbiz.de/10010557904
Persistent link: https://www.econbiz.de/10010846016
This article provides a review of economic studies analyzing the use of multiple policies – a socalled policy mix – to cope with single pollution problems. To guide and structure the review, an analytical framework is developed and applied. The framework integrates transaction costs into the...
Persistent link: https://www.econbiz.de/10008562594
The entrepreneurial theory of the firm argues that entrepreneurship, properly understood, is a crucial but neglected element in explaining the nature and boundaries of the firm. By contrast, the theory of the entrepreneurial firm presumably seeks not to understand the nature and boundaries of...
Persistent link: https://www.econbiz.de/10005746079
This paper provides an initial rational reconstruction of Coase’s unmistakable way of doing economic analysis in a … impossible question of “what did Coase really say?â€. Firms are normally depicted in marginal analysis as almost exclusively …€. There are differences under many respects between standard treatments and Coase’s but they are not desperately conflicting …
Persistent link: https://www.econbiz.de/10005636475
This article provides a review of economic studies analyzing the use of multiple policies - a socalled policy mix - to cope with single pollution problems. To guide and structure the review, an analytical framework is developed and applied. The framework integrates transaction costs into the...
Persistent link: https://www.econbiz.de/10008924765