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This is a reprint of a previously published work. The original title was Strategies for Vertical Integration. It deals with self-sufficiency and outsourcing in various kinds of businesses.
This volume features a series of essays which arose from a conference on economics, addressing the question: what is the nature of the firm in economic analysis? This paperback edition includes the Nobel Lecture of R.N. Case.
These contributions discuss a number of important developments over the past decade in a newly established and important field of economics that have led to notable changes in views on governmental competition policies. They focus on the nature and role of competition and other determinants of market structures, such as numbers of firms and barriers to entry; other factors which determine the effective degree of competition in the market; the influence of major firms (especially when these pursue objectives other than profit maximization); and decentralization and coordination under control relationships other than markets and hierarchies.ContributorsJoseph E. Stiglitz, G. C. Archibald, B. C. Eaton, R. G. Lipsey, David Enaoua, Paul Geroski, Alexis Jacquemin, Richard J. Gilbert, Reinhard Selten, Oliver E. Williamson, Jerry R. Green, G. Frank Mathewson, R. A. Winter, C. d'Aspremont, J. Jaskold Gabszewicz, Steven Salop, Branko Horvat, Z. Roman, W. J. Baumol, J. C. Panzar, R. D. Willig, Richard Schmalensee, Richard Nelson, Michael Scence, and Partha Dasgupta
From the back cover: The fundamental question addressed by this study is the extent to which service functions formerly performed within industrial firms have been contracted out. If the service sector has grown primarily because manufacturing and other industries have contracted out janitorial, security and other business services, then there in not much economic significance to service sector growth. This also implies that observed declines in manufacturing employment may also represent nothing more than inter-sectoral shifts in the location of employment. This study breaks new ground in developing a series of statistical approaches to the measurement of contracting out. Based on a solid theoretical framework, three new empirical measures of contracting out are presented. The results vary somewhat by method but the overall conclusion is that contracting out is an important phenomenon.
This book collects 19 of the most influential articles on trade with imperfect competition, providing ready access to current research by top-level economists.