The Incentive Limits of Firms: A Comparative Institutional Assessment of Bureaucracy

Oliver Williamson

Chapter 7 in Economic Incentives, 1986, pp 204-237 from Palgrave Macmillan

Abstract: Abstract Why can’t a large firm do everything that a collection of small firms can do and more? This is a variant of a question that has been asked many times before but for which an adequate answer has never been devised — to wit, what is responsible for limitations in firm size? Yet another way of putting this same issue is this: why not organize everything in one large firm?

Keywords: Small Firm; Large Firm; Vertical Integration; Transfer Price; Asset Specificity (search for similar items in EconPapers)
Date: 1986
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Journal Article: The incentive limits of firms: A comparative institutional assessment of bureaucracy (1984)
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DOI: 10.1007/978-1-349-18204-6_7

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