Asset Specificity and the Structure of Vertical Relationships: Empirical Evidence

摘要: A meeting to celebrate the fiftieth anniversary of "The Nature Firm" could not take place at a more appropriate time. Theoretical and empirical research into kinds issues raised by Professor Coase in his 1937 paper has increased substantially recent years. It is good time stock where we are, how got here, are going this area. I have been asked do two things paper. First, discuss theoretical that had an important influence on my own thinking related nature firm. will use opportunity reminisce about intellectual enlightenment provide historical survey conceptual developments feel most importance. Second, review stimulated work. Since interests area focused primarily associated with structure vertical relationships, and, particular, role asset specificity, transactions costs, incomplete contracts, it strand literature focus here.