Organizational economists use concepts and tools from the demesne of economics to study the internal process and constructions of the devoted. They ask questions such(prenominal) as why do organizations exists? What determines the size, scope, and structure of a firm? why are some workers paid hourly rank while others receive salaries? and what factors determine organizational survival and harvest-home? Most of the serious developments in this field occurred in the split second half of the 20 th century, including the introduction of important ideas associated with, for ex amperele, office staff theory, behavioral theory, incomplete contract theory of teams, transaction apostrophize economics, and game theory.
study Contributions of Organizational Economics Theory
Major contributions of the Organizational Economics were: Markets and Hierarchies: Understanding the Employment Relation Oliver E. Williamson(1975), Theory of Firm: Managerial Behavior, Agency Costs and Ownership Structure, Michael C. Jensen & William H. Meckling (1976), Learning from Organizational Economics Jay B. Barney & William G. Ouchi (1986), Managing Business minutes Paul H.
Rubin (1990)
Understanding the Employment Relation from Williamsons book, Markets and Hierarchies, assesses organizational decisions to produce goods and services internally versus externally by analyzing the pertinence of various types of economic contracts and market models to employment relations.
Agency theory defines managers and other employees as agents of owners (principals) who out of necessity must designate some authority to agents. Price Theory has been concerned with how to structure organizations for the free interplay of markets among agents and principals.
The Theory of Property Rights adresses the allocation of costs and rewards among the participants in an organization and, for example, how claims on the assets and cash flows individuals
Rubins underlying...If you want to set forth a full essay, order it on our website: Ordercustompaper.com
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