This article tests Oliver Williamson's proposition that transaction cost economics can explain the limits of firm size. Williamson suggests that diseconomies of scale are manifested through four interrelated factors: atmospheric consequences due to specialization, bureaucratic insularity,...

This two-part article explores why management consultants and why they organize in independent firms. The intellectual foundation is transaction cost economics. Part 1 summarizes the history of management consulting and reviews the literature. Part 2 applies TCE to management consulting to...

The goal of this paper is to to take the most important contributions to strategy science since the late 1950s and integrate them into coherent perspective.It brings together the ideas of Profs. Joe Bain, Michael Porter, Birger Wernerfelt, and Roger Martin. It then overlays these micro-economic...

Finding, measuring and capturing market opportunities in emerging countries are critical tasks for multinational con- sumer goods companies. Central to these tasks is the need to collect and analyze income distribution data within a globally coherent framework and to move beyond income metrics...

There is very little evidence on the effects of the minimum wage on prices in the international literature and none whatsoever for developing countries. This paper analyzes the effects of the minimum wage on prices using monthly Brazilian household and price data from 1982 to 2000 aggregated at...

A key area of focus in the economic reform process and the design of a favorable business environment is labor market legislation. Montenegro has obviously failed in this area. After nearly 13 years since the beginning of the transition process, or five years since the beginning of Economic...

In many countries the shadow employment has a very high priority among policymakers. A new time series for this component of the labour market has been recently released by the Italian institute of statistics. Taken together they give the motivation and the occasion for a fresh analysis of the...

Using an econometric procedure that corrects for both self-selection of individuals into their preferred compensation scheme and wage endogeneity, this study investigates whether significant differences exist in the job satisfaction of individuals receiving performance- related pay (PRP)...