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Theory of the Firm

This class was created by Brainscape user Sofie Sørensen. Visit their profile to learn more about the creator.

By: Sofie Sørensen
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Decks in this class (12)

Lecture 1 - Introduction
Benefits of specialization,
Costs of specialization,
Who specializes in what
11  cards
Lecture 2 - Decision Making & Interaction
Classical decision making model,
Manifestations of bounded rationa...,
Key idea of decision achitacts
5  cards
Lecture 3 - Efficiency, prices and property rights: Benchmarks
Behavioral assumptions,
View of the firm,
2 benchmarks
15  cards
Lecture 4 - Agency Theory
Agency theorybehavioral assumptions,
Agency theorycontracts,
Assumptions about the principle a...
18  cards
Lecture 5 - Agency Theory
Types of incentive pay,
Advantages and disadvantages of p...,
Effects of piece rates
6  cards
Lecture 6 - Internal Organization
Definition decision rights,
Delegation decision quality,
What is delegated
10  cards
Lecture 7 - Internal Organization
2 interdependent aspects of desig...,
2 views on organizational theory,
Advantages of hierarchy
17  cards
Lecture 8 - Transaction Cost Economics
Tce behavioral assumptions,
Tce contracts,
Tce view of the firm
12  cards
Lecture 9 - Franchising & Diversified Firms
Types of hybrid governance struct...,
Key issue in franchising,
Hybrid form characteristics
17  cards
Lecture 10 - Property Rights
Pra behavioral assumptions,
Pra contracts,
Pra view of the firm
18  cards
Lecture 11 - Self-enforcing Contracts
Mechanisms for enforcing agreemen...,
Contractual hazards,
Mechanisms for enforcing good beh...
18  cards
Part B
Structure
1  cards

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Theory of the Firm

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