An Equilibrium Model of Hierarchy

Xiaokai Yang

Chapter 5 in The Economics of E-Commerce and Networking Decisions, 2003, pp 69-100 from Palgrave Macmillan

Abstract: Abstract The purpose of this chapter is twofold. First, I extend the received partial equilibrium analysis of hierarchical models to a general equilibrium context. Second, the equilibrium model of hierarchy will be used to explore the relationship between the hierarchical structure of economic organization and the level of division of labour.

Keywords: Transaction Cost; General Equilibrium; Trading Partner; Indirect Utility Function; Transaction Service (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-4039-3837-4_5

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DOI: 10.1057/9781403938374_5

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