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1、HEINONLINECitation:7J.L.Econ.&Org.11991Contentdownloaded/printedfromHeinOnline(http://heinonline.org)MonSep2808:16:062015--YouruseofthisHeinOnlinePDFindicatesyouracceptanceofHeinOnline'sTermsandConditionsofthelicenseagreementavailableathttp://heinonline.org/HOL/License--Thesear
2、chtextofthisPDFisgeneratedfromuncorrectedOCRtext.--ToobtainpermissiontousethisarticlebeyondthescopeofyourHeinOnlinelicense,pleaseuse:https://www.copyright.com/ccc/basicSearch.do?&operation=go&searchType=0&lastSearch=simple&all=on&titleOrStdNo=8756-6222JLEO.V7N11TheCostsofOrgani
3、zationScottE.MastenUniversityofMichiganJamesW.Meehan,Jr.ColbyCollegeEdwardA.SnyderUniversityofMichigan1.IntroductionThetenettowhichalltransaction-costeconomistssubscribeisthatthechoiceamongalternativeorganizationalarrangementsturnsonacomparisonofthecostsoftransactingundereach.T
4、oimpartempiricalcontenttothisfundamen-talinsight,theoristsbegantorelatetheincidenceoftransactioncoststoobservableattributesoftransactions(Williamson,1975,1979;Kleinetal.).Theseefforts,however,concentratedonfactorsaggravatingthehazardsofmarketexchange.Bycontrast,thelimitationsof
5、internalorganizationhavebeentreatedprimarilyasabarriertobeovercomebeforeintegrationwouldoccur.Althoughtheempiricalresearchtodatehasbeengenerallysupportiveofthecentraltransaction-costpropositions,1recognitionthatvariationsininternalorganizationcostsmayalsoplayaroleinthedecisiont
6、ointegrateexposesaninherentweaknessinthenatureofthesetests.Becauseofdifficultiesinobservingandmeasuringtransactioncosts,analystshavehadtorelyones-WewouldliketoextendourthanksforhelpfulcommentstoKeithCrocker,AlvinKlevorick,IngoVogelsang,OliverWilliamson,BernardYeung,andparticipa
7、ntsatseminarsatBerkeley,UCLA,theUniversityofMichigan,andtheAntitrustDivisionoftheU.S.DepartmentofJustice,andatanNBERconferenceonTopicsinIndustrialOrganization.WegratefullyacknowledgethecooperationofBathIronWorksandthankMarkMcAliffe,PhilNein,DonSpann,andJuniusBrownfortheircooper
8、ationinprovidingdata.JimBohnprovidedexcellentresearcha