Markets, Hierarchies, and Status Orders: Wherein lies the control?
Abstrakti
MARKETS, HIERARCHIES, AND STATUS
ORDERS: WHEREIN LIES THE CONTROL
This paper highlights the significance of status to
control in both markets and hierarchies. ln so doing,
it takes issue with the conventional view that
markets and hierarchies represent alternative control
structures. lmplications for Williamson's (1975, 1985,
1991) transaction cost framework are discussed.
