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Unformatted text preview: ANNOTATED BIBLIOGRAPHY ON TRANSACTION COST ECONOMICS Theoretical, Empirical, and Institutional Issues Compiled by Harvey S. James, Jr., Ph.D. University of Missouri Updated October 23, 2002 WELCOME to the world of transaction cost economics. This bibliography is a compilation of research on transaction cost economics. The bibliography is not intended to be an exhaustive listing. Rather, it is designed to be a "starting point" for those interested in economic theories of organizations and institutions, particularly within the transaction cost perspective. The bibliography is divided into three main sections: theoretical, empirical, and institutional issues. These divisions are not exact, as many empirical papers also make a strong theoretical contribution to transaction cost economics. Similarly, the categories within each division are only approximate; many articles easily fit into several categories. Nevertheless, I have made every effort to fit the papers and books as closely as possible to the main theoretical or empirical contribution of the work. I have also included sections on papers offering summaries of transaction cost economics, textbooks incorporating the transaction cost framework into the presentation of economic and organizational theories, and journals advancing the transaction cost literature. While many of the papers listed here have summaries (SU) or abstracts (AB), most are simply listed, with no description or explanation of content or context. I will add summaries or abstracts as time permits. For additional information on transaction cost economics, especially with respect to contracting issues, visit the Internet sites of the Contracting and Organization Research Institute and the International Society for New Institutional Economics . If you have any comments, suggestions for improvement, or know of papers or books that should be listed here, please e-mail me at Theoretical Issues o The Nature of the Firm o Physical Capital and Vertical Integration o Employment of Labor and Hierarchies o Agency Issues o Measurement and Information Problems o Transaction Costs and Property Rights Empirical Evidence o Vertical Integration o Long Term Contracting o Organizational Issues General Issues in Institutions and Political Economy Applications to Educational Institutions Summaries and Surveys Textbooks Journals Theoretical Issues The Nature of the Firm Baker, George, Robert Gibbons, and Kevin J. Murphy, (1997) "Relational Contracts and the Theory of the Firm," SSRN paper at . AB: We combine Simon's conception of relational contracts with Grossman and Hart's focus on asset ownership. We analyze whether transactions should occur under vertical integration or non-integration, and with or without self-enforcing relational contracts. These four models allow us to re-run the horse race Coase proposed between markets and firms as alternative governance structures, but with four horses rather than...
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This note was uploaded on 04/16/2010 for the course FIN 1511 taught by Professor Gomori during the Spring '10 term at St.Francis College.

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