People Contacts Icon
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Interaction between the parties still continues To be mediated by the prices. But their role decreases. Adaptation to To new conditions it is reached not so much at the expense of revision
The prices, how much at the expense of change of physical volumes of the goods,
Being a transaction subject. This results from the fact that at
The price adaptation risk of opportunistic behaviour
Considerably above. Sphere of application of this mechanism
Managements - regular transactions concerning the goods of average
The fourth - unitary management, i.e. Hierarchy. Such
The system develops for continuously proceeding exchanges
The contract means that adaptation to new conditions can
To be carried out unilaterally, without the preliminary
Coordination with an opposite side. Relations between
Participants of the contract are regulated by direct commands and
Orders, instead of market signals.
One of the parties thus not completely passes all rights
Usings on a resource available for it, and delegates them
To other party under certain conditions. When the final
The rights remain for the initial owner, the contract
Turns to difficult structured document: in exchange for
The income one of the parties concedes the limited set of the rights with
The obligation to submit to instructions of other party and
Refuses thus that it is independent
To build the behaviour, being guided constantly by the market
The prices for services which it can give (20, with. 5).
Such broad interpretation of concept "the bilateral
The voluntary contract "allows theorists of the rights
Properties to define the form as a network of contracts. The first
Such definition of firm of a distance of A.Alchjan and G.Demsets (6). Firm
It is understood as the spontaneous institute solving a problem
Which the organisation solves this problem more successfully, than
The decentralised market mechanism, it supersedes it.
At the same time, in the full consent with principles
Methodological individualism, if the economic
The organisations also matter, the behavioural
They possess independence, for operate not
The organisations, and individuals in the organisations. In this sense
The firm - legal fiction, and in a reality is combinations
The various difficult structured contracts. Therefore With.
- in general the firm, for example, urges to refuse the term
As misleading (20).
As it is easy to understand from resulted above statement it it
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