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PHDBA602 (Theory of the Firm) (view source)
Revision as of 16:02, 25 August 2010
, 16:02, 25 August 2010New page: PHDBA602 is a (for credit) Directed Studies course, that doctoral students can use to develop their own courses with a professor. This page provides information about a directed study cour...
PHDBA602 is a (for credit) Directed Studies course, that doctoral students can use to develop their own courses with a professor. This page provides information about a directed study course with Steve Tadelis on that centers arounds models that provide theories of the firm.
==Format==
The format is:
*One, perhaps two, models per class
*One class per week, with a timeslot TBD.
*The student will write up the model ahead of time (on this wiki)
*The class will be used to:
**Discuss intricacies of the model
**Discuss modelling choices, with a view to helping the student understand how to build models
**Place the model in the context of the broader literature
==Papers==
The following papers are suggested as a starting point:
*[[Grossman Hart (1986) - The Costs And Benefits Of Ownership |Grossman, Sanford J. and Oliver D. Hart (1986)]], "The Costs and Benefits of Ownership: A Theory of Vertical Integration", Journal of Political Economy, vol.94, pp. 691-719. [http://www.edegan.com/pdfs/Grossman%20Hart%20(1986)%20-%20The%20Costs%20and%20Benefits%20of%20Ownership.pdf pdf]
*[[Holmstrom Milgrom (1991) - Multi Task Principal Agent Analyses |
Holmstrom, Bengt and Paul Milgrom (1991)]], "Multi-Task Principal-Agent Analyses: Linear Contracts, Asset Ownership and Job Design", Journal of Law, Economics and Organization, Vol. 7, pp. 24-52. [http://www.edegan.com/pdfs/Holmstrom%20Milgrom%20(1991)%20-%20Multi%20Task%20Principal%20Agent%20Analyses.pdf pdf]
*[[Gibbons (2005) - Four Formalizable Theories Of The Firm |Gibbons, Robert (2005)]], "Four formal(izable) theories of the firm?", Journal of Economic Behavior & Organization, vol. 58, pp.200-245. [http://www.edegan.com/pdfs/Gibbons%20(2005)%20-%20Four%20formalizable%20theories%20of%20the%20firm.pdf pdf]
==Background Literature==
The following papers provide seminal background material:
*[[Alchian Demsetz (1972) - Production Information Costs And Economic Organization |Alchian, Armen A. and Harold Demsetz (1972)]], "Production, Information Costs, and Economic Organization", The American Economic Review, Vol. 62, No. 5. (Dec.), pp. 777-795 [http://www.edegan.com/pdfs/Alchian%20Demsetz%20(1972)%20-%20Production%20Information%20Costs%20and%20Economic%20Organization.pdf pdf]
*[[Coase (1937) - The Nature Of The Firm |Coase, Ronald (1937)]], "The Nature of the Firm", Economica. [http://www.edegan.com/pdfs/Coase%20(1937)%20-%20The%20Nature%20of%20the%20Firm.pdf pdf]
*[[Klein Crawford Alchian (1978) - Vertical Integration Appropriable Rents And The Competitive Contracting Process |Klein, Benjamin Robert, G. Crawford, and Armen A. Alchian (1978)]], "Vertical Integration, Appropriable Rents, and the Competitive Contracting Process", Journal of Law and Economics, Vol. 21, No. 2. (Oct.), pp. 297-326 [http://www.edegan.com/pdfs/Klein%20Crawford%20Alchian%20(1978)%20-%20Vertical%20Integration%20Appropriable%20Rents%20and%20the%20Competitive%20Contracting%20Process.pdf pdf]
*[[Williamson (1971) - The Vertical Integration Of Production |Williamson, Oliver E. (1971)]], "The Vertical Integration of Production: Market Failure Considerations," American Economic Review, 61:112-23. [http://www.edegan.com/pdfs/Williamson%20(1971)%20-%20The%20Vertical%20Integration%20of%20Production.pdf pdf]
==Format==
The format is:
*One, perhaps two, models per class
*One class per week, with a timeslot TBD.
*The student will write up the model ahead of time (on this wiki)
*The class will be used to:
**Discuss intricacies of the model
**Discuss modelling choices, with a view to helping the student understand how to build models
**Place the model in the context of the broader literature
==Papers==
The following papers are suggested as a starting point:
*[[Grossman Hart (1986) - The Costs And Benefits Of Ownership |Grossman, Sanford J. and Oliver D. Hart (1986)]], "The Costs and Benefits of Ownership: A Theory of Vertical Integration", Journal of Political Economy, vol.94, pp. 691-719. [http://www.edegan.com/pdfs/Grossman%20Hart%20(1986)%20-%20The%20Costs%20and%20Benefits%20of%20Ownership.pdf pdf]
*[[Holmstrom Milgrom (1991) - Multi Task Principal Agent Analyses |
Holmstrom, Bengt and Paul Milgrom (1991)]], "Multi-Task Principal-Agent Analyses: Linear Contracts, Asset Ownership and Job Design", Journal of Law, Economics and Organization, Vol. 7, pp. 24-52. [http://www.edegan.com/pdfs/Holmstrom%20Milgrom%20(1991)%20-%20Multi%20Task%20Principal%20Agent%20Analyses.pdf pdf]
*[[Gibbons (2005) - Four Formalizable Theories Of The Firm |Gibbons, Robert (2005)]], "Four formal(izable) theories of the firm?", Journal of Economic Behavior & Organization, vol. 58, pp.200-245. [http://www.edegan.com/pdfs/Gibbons%20(2005)%20-%20Four%20formalizable%20theories%20of%20the%20firm.pdf pdf]
==Background Literature==
The following papers provide seminal background material:
*[[Alchian Demsetz (1972) - Production Information Costs And Economic Organization |Alchian, Armen A. and Harold Demsetz (1972)]], "Production, Information Costs, and Economic Organization", The American Economic Review, Vol. 62, No. 5. (Dec.), pp. 777-795 [http://www.edegan.com/pdfs/Alchian%20Demsetz%20(1972)%20-%20Production%20Information%20Costs%20and%20Economic%20Organization.pdf pdf]
*[[Coase (1937) - The Nature Of The Firm |Coase, Ronald (1937)]], "The Nature of the Firm", Economica. [http://www.edegan.com/pdfs/Coase%20(1937)%20-%20The%20Nature%20of%20the%20Firm.pdf pdf]
*[[Klein Crawford Alchian (1978) - Vertical Integration Appropriable Rents And The Competitive Contracting Process |Klein, Benjamin Robert, G. Crawford, and Armen A. Alchian (1978)]], "Vertical Integration, Appropriable Rents, and the Competitive Contracting Process", Journal of Law and Economics, Vol. 21, No. 2. (Oct.), pp. 297-326 [http://www.edegan.com/pdfs/Klein%20Crawford%20Alchian%20(1978)%20-%20Vertical%20Integration%20Appropriable%20Rents%20and%20the%20Competitive%20Contracting%20Process.pdf pdf]
*[[Williamson (1971) - The Vertical Integration Of Production |Williamson, Oliver E. (1971)]], "The Vertical Integration of Production: Market Failure Considerations," American Economic Review, 61:112-23. [http://www.edegan.com/pdfs/Williamson%20(1971)%20-%20The%20Vertical%20Integration%20of%20Production.pdf pdf]
