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Transaction Costs, Markets and Hierarchies

ISBN: 978-0-631-18898-8
292 pages
August 1993, Wiley-Blackwell
Transaction Costs, Markets and Hierarchies (0631188983) cover image


In this important text Christos Pitelis has brought together twelve leading academics and researchers to survey and critically assess the transaction costs, markets and hierarchies perspective in the light of recent advances. By providing up-to-date statements of their views on the limitations o the perspective it is hoped that their contributions will stimulate further debate and open up new avenues for future research.
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Table of Contents

1. Transaction Costs, Markets and Hierarchies: Christos Pitelis (University of Cambridge).

2. The Nature and Role of Markets: Malcolm Sawyer (University of Leeds).

3. In the Beginning there were Markets?: Frederick Fourie (University of the DFS, South Africa).

4. Control, Markets and Firms: Keith Cowling and Robert Sugden (University of Birmingham).

5. Transaction Costs and the Evolution of the Firm: Geoffrey Hodgson (Newcastle Polytechnic).

6. The Appropriability Critique of Transaction Cost Economics: Gregory Dow (University of Alberta, Canada).

7. Power and Efficiency in the Firm: Paul Marginson (University of Warwick).

8. Transaction Costs,... and Revenues: Michael Dietrich (Newcastle Polytechnic).

9. Transaction Cost Economics and the State: William Dugger (DePaul University, Chicago).

10. Markets, Hierarchies and Markets Again: Steve Thompson and Mike Wright (University of Manchester and University of Nottingham).

11. Markets, False Hierarchies and the Role of Asset Specificity: Neil Kay (University of Strathclyde).

12. On Transactions (Costs) and Markets and (as) Hierarchies: Christos Pitelis (University of Cambridge).

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Author Information

Christos Pitelis is Barclays Bank Lecturer in Industrial Organization and Corporate Strategy. The Judge Institute of Management Studies, and Fellow in Economics, Queens' College, both at the University of Cambridge.
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The Wiley Advantage

  • Transaction costs economics is one of the fastest growing areas of economic analysis
  • All the contributors are recognized experts in the field
  • This volume represents the most up-to-date statement on the limitations of the theory.
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"There is a plethora of interesting ideas to be found in these papers. I think the papers collected here are well worth reading." Journal of Economics
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