Construction Markets and Transaction Costs

Stephen L. Gruneberg and Graham J. Ive
Additional contact information
Stephen L. Gruneberg: University College London
Graham J. Ive: University College London

Chapter 5 in The Economics of the Modern Construction Firm, 2000, pp 116-141 from Palgrave Macmillan

Abstract: Abstract This chapter discusses the way all the construction activities that go into the production of a finished product are co-ordinated. Coordination may be achieved either by command or by market exchange. If all activities are carried out by workers directly employed by one firm, co-ordination is achieved by command within an hierarchy. The hierarchical power of employers enables them to give orders to all their different employees, who therefore may be envisaged as the many hands of a single controlling brain.

Keywords: Transaction Cost; Construction Industry; Construction Sector; Total Unit Cost; Cumulative Causation (search for similar items in EconPapers)
Date: 2000
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-51043-2_5

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230510432

DOI: 10.1057/9780230510432_5

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().