A group of organizational economists have just celebrated the 25th anniversary of the groundbreaking work of Grossman and Hart (1986) (HT to Peter Klein). As a strategy student and a great admirer of the property rights school, I myself also have written a small essay to celebrate this day, where I bring two closely related and widely influential theories namely, PRT and Transaction Cost Economics (TCE) together and offered a brief comparison of the two schools, their critiques, and how they have and may futher shed great light on the future of strategy research.
TCE and PRT: Compare, Contrast and Critique
No comments:
Post a Comment