DO RATE AND VOLUME MATTER? TRANSACTION COST LIMITS TO ECONOMIES OF SCALE
Cotton M. Lindsay
(J.Wilson Newman Professor of Managerial Economics, Clemson University, Clemson SC 29634.)
Michael T. Maloney
(Professor of Economics, Clemson University.)
265
Abstract
We revisit economies of scale starting with Adam Smith and continuing through Armen Alchian. In spite of detail and depth of analysis, the application of economies of scale is still confused. As Robinson points out, large scale processes can be jobbed out. The Coasian limits of the problem are explored.
Citation
Lindsay, C.M. and Maloney, M.T. (1996), "DO RATE AND VOLUME MATTER? TRANSACTION COST LIMITS TO ECONOMIES OF SCALE", Studies in Economics and Finance, Vol. 17 No. 1, pp. 88-109. https://doi.org/10.1108/eb028728
Publisher
:MCB UP Ltd
Copyright © 1996, MCB UP Limited