Questions relating to the existence and nature of firms have become major issues in economics in recent years. The agenda in this area has been largely set by transaction cost economics (Coase, Williamson), an approach which provides a basis for explaining the boundaries and structure of the firm in a variety of contexts. This book follows the agenda set by transaction cost economics, but is unique in providing improved explanations of individual phenomena as well as a more general framework for analyzing the nature and behavior of firms. He illustrates his argument with sixty figures which present the relations between firms in a graphic form.
"synopsis" may belong to another edition of this title.
Neil M. Kay is a Professor of Business Economics at University of Strathclyde.
`Throughout, he uses well-constructed figures to illustrate relationships and structures ... very useful and well-written.'
Times Higher Education Supplement
Kay has produced a book that has the potential to revolutionise the way that the theory of the firm is taught and his skillful use of the Macromedia FreeHand graphics package has resulted in a mass of student-friendly diagrams with which to teach it. - Peter Earl. Scottish Journal of Political
Economy. 1998.
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