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The Labor Market and the Institution of the Firm

In: Inframarginal Economics

Author

Listed:
  • Xiaokai Yang

    (University of New South Wales, Australia)

  • Wai-Man Liu

    (University of New South Wales, Australia)

Abstract

The following sections are included:What is the Institution of the Firm?Is It Fair to Have an Asymmetric Relationship between Boss and Employees?-The Story behind the ModelEmergence of the Firm from the Division of LaborEconomies of roundabout productionThe corner equilibria in four structuresGeneral equilibrium structure of transactions and residual rightsThe Distinction Between ex ante and ex post Production Function and the Smithian Analysis of Demand and SupplyEconomies of Division of Labor, Economies of the Firm, and Coase TheoremThe Economies of Division of Labor and the Size of FirmsFurther ReadingQuestionsExercises

Suggested Citation

  • Xiaokai Yang & Wai-Man Liu, 2008. "The Labor Market and the Institution of the Firm," World Scientific Book Chapters, in: Inframarginal Economics, chapter 6, pages 135-169, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789812837929_0006
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    More about this item

    Keywords

    Inframarginal Economics; Inframarginal Analysis; Division of Labor; Specialization; Network Effects; Smithian Framework; Transaction Costs;
    All these keywords.

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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