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Equilibrium, outcomes, and the economics of organization

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  • Hubbard, Thomas N.

Abstract

Most empirical work in the economics of organization consists of theory-testing exercises, where the theories under examination rely on optimality principles but not equilibrium. This paper discusses recent attempts to bring equilibrium analysis into the economics of organization, highlighting the types of research questions that researchers can investigate and the evidentiary and analytical inputs necessary in such approaches.

Suggested Citation

  • Hubbard, Thomas N., 2010. "Equilibrium, outcomes, and the economics of organization," International Journal of Industrial Organization, Elsevier, vol. 28(4), pages 359-361, July.
    • Handle: RePEc:eee:indorg:v:28:y:2010:i:4:p:359-361
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    References listed on IDEAS

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    1. Grossman, Sanford J & Hart, Oliver D, 1986. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 691-719, August.
    2. Silke Januszewski Forbes & Mara Lederman, 2009. "Adaptation and Vertical Integration in the Airline Industry," American Economic Review, American Economic Association, vol. 99(5), pages 1831-1849, December.
    3. Luis Garicano, 2000. "Hierarchies and the Organization of Knowledge in Production," Journal of Political Economy, University of Chicago Press, vol. 108(5), pages 874-904, October.
    4. Luis Garicano & Esteban Rossi-Hansberg, 2006. "Organization and Inequality in a Knowledge Economy," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 121(4), pages 1383-1435.
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