As a student at the London School of Economics (LSE), Ronald Coase posed a seemingly naïve question that would, in time, fundamentally change the face of economics and earn him the Nobel Prize: ‘Why do firms exist?' The import of this simple question derived not only from the response Coase...

Consolidation and increased concentration in the agrifood sector over the past two decades, combined with an increased use of alternative marketing agreements in the poultry and livestock industries, have fueled concerns of anti-competitive behavior among large agribusinesses such as the major...

The wine industry in the United States has grown tremendously over the past few decades, from fewer than 1,000 wineries in 1980 to upward of 8,500 today. The growth has occurred over a period that has seen substantial changes in the structure of the wine industry, the modes of distribution...

New Institutional Economics is characterized by its real-word orientation and empirical focus. Nowhere is this broader scope more evident than in microeconomic theories of firms and markets. NIE has led researchers not only to crack open the black box of production known as the firm, but also...