Consistency in Organization

by Ekkehart Schlicht

IZA discussion paper no. 718

February 2003

 

Abstract

Recent thinking has emphasized the importance of consistency in a firm’s compensation policy. By starting from Williamson’s ideas about idiosyncratic exchange, this view can be supplied with some theoretical foundation. At the same time, the consistency view can be applied to a number of organizational issues. It sheds new light on some Williamsonian themes, like the boundaries of the firm or the attenuation of incentives within firms.
 

Keywords:  theory of the firm, command, routines, centralization paradox, Williamson's

puzzle, attenuation of incentives

 

Journal of Economic Literature classification numbers: L22, L25, J33, J53

 

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