16b.+Getting+A+Job - Social Networks Markets = informed,...

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Unformatted text preview: Social Networks Markets = informed, rational individuals involved in the free exchange of goods, services, and/or capital, resulting in economic efficiency. Coases Question* : If markets are so superior, so efficient then why dont corporations use them internally? *Ronald Coase, "The Nature of the Firm" (1937) Markets = informed, rational individuals involved in the free exchange of goods, services, & capital, resulting in economic efficiency Hierarchies = organizations of asymmetrical power, centralized, command-and-controlreduce transaction costs Markets = informed, rational individuals involved in the free exchange of goods, services, & capital, resulting in economic efficiency Hierarchies = organizations of asymmetrical power, centralized, command-and-controlreduce transaction costs Networks = social structure made up of nodes (generally individuals or organizations) that are tied by one or more specific types of relations Mark Granovetter...
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This note was uploaded on 01/16/2012 for the course INTA 1200 taught by Professor Birchfield during the Spring '08 term at Georgia Institute of Technology.

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16b.+Getting+A+Job - Social Networks Markets = informed,...

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