Ownership, Control and the Firm: The Organization of Economic Activity

Professor Demsetz is one of the leading contemporary authorities in the field of industrial organization. His work has ranged widely over such topics as property rights, the theory of the firm, transaction costs, industrial structure, monopoly, and ownership: to each, he has brought a unique blend of positive theorizing and evidence gathering, relying on simple verbal and geometric exposition to illuminate complex issues. This volume brings together a selection of some of his most important work on the central theme of ownership. It includes several unpublished pieces, notably an overview of the economics of ownership, an examination of the ethical content of property rights arrangements, and an introduction, sketching the development of the author's ideas and career as an economist.