RESEARCH NOTES AND COMMUNICATIONS COMMENTS ON âTRANSACTION COSTS AND NETWORKSâ IMD, Lausanne, Switzerland J. CARLOS JARILLO Professor Bloisâs paper seems to argue that the use of the concept of transactions costs to analyze the practice that has been called ânetworkingâ may not be warranted: (a) due to the lack of specificity of such concept, or (b) if it is not applied correctly. He points at my article âOn strategic networksâ as an example of those two problems. As far as I can see, no alternative solution or utilization of the concept is suggested. His first criticism is that my paper does not make clear what point of view I am arguing from. This may well be the case, so I am going to make it explicit now. It is commonly accepted that there are two basic ways to organize complex economic activity. One is the âmarket,â which works through the price mechanism, to send appropriate signals to economic actors about what they should be doing. The other is the âfirmâ or âhierarchy,â to follow Williamsonâs now classical terminology. In this second system the organizing principle is hierarchical: actors are simply told what to do, in order to deliver
Strategic Management Journal – Wiley
Published: Oct 1, 1990
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