Markets and Organizations: Towards an Individualistic Theory of Collective Action

Samenvatting

From recent theoretical contributions in the economics of public choice & property rights an outline is presented of some analytical fundamentals of an individualistic theory of corporate actors (organizations). It is shown that such a theory can more fruitfully use the "combining resources model," proposed in recent publications by J. S. Coleman, instead of the exchange model that traditionally has been central to an individualistic social theory. The exchange model -- while being appropriate for the analysis of market structures -- is less fruitful when applied to organizational structures or corporate bodies. The differences between markets & organizations as two types of social networks are specified, & the combining resources model is outlined & applied to an analysis of the two basic features characterizing corporate bodies: (1) the problem of "social distribution" (of distributing the "corporate product"), & (2) the problem of "collective decision." Some final remarks are made on an interpretation of the state as a corporate actor. AA.