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The Economics of Organization: The Transaction Cost Approach on JSTOR
Source: jstor.org
Article summary:
1. The transaction cost approach to the study of economic organization views the transaction as the basic unit of analysis.
2. Economizing is accomplished by assigning transactions to governance structures in a discriminating way.
3. The approach applies both to the determination of efficient boundaries between firms and markets, and to the organization of internal transactions, including employment relations.
Article analysis:
The article is written from an academic perspective and provides a comprehensive overview of the transaction cost approach to economic organization. It is well-researched and provides detailed information on how this approach can be applied in practice. The article does not appear to have any biases or one-sided reporting, as it presents both sides equally and does not make any unsupported claims or omit any points of consideration. Furthermore, it provides evidence for its claims and explores counterarguments where appropriate. There is no promotional content or partiality present in the article, and possible risks are noted where applicable. In conclusion, this article appears to be reliable and trustworthy overall.