Corporate Law and Corporate Governance
Production, Information Costs, and Economic Organization
Armen A. Alchian and Harold Demsetz
- Year
- 1972
- Venue
- American Economic Review
- Level
- Introductory
Summary
Explains the firm through team production, metering costs, shirking, and monitoring rather than through authority alone. The article links ownership, residual claims, and the monitor's role to information costs, making it central to agency-cost analysis and the economic theory of corporate organization.
Citation
Armen A. Alchian and Harold Demsetz. "Production, Information Costs, and Economic Organization." American Economic Review, 1972.
BibTeX
@article{Alchian1972Production,
title = {Production, Information Costs, and Economic Organization},
author = {Armen A. Alchian and Harold Demsetz},
year = {1972},
journal = {American Economic Review},
url = {https://econpapers.repec.org/article/aeaaecrev/v_3a62_3ay_3a1972_3ai_3a5_3ap_3a777-95.htm}
}