"EXPLAINING THE FIRM: TRANSACTION COSTS OR CAPABILITIES?"

Organised by the Centre for Research in Institutional Economics,

University of Hertfordshire, UK, with the financial support of the

Cambridge Political Economy Society Trust.

BOOKINGS AND PAYMENTS MUST BE RECEIVED BY 10 APRIL 2003 TO QUALIFY FOR THE

CHEAPER, EARLY BOOKING RATES.

Speakers: Richard Carter (London), Giovanni Dosi (Pisa), Nicolai Foss

(Copenhagen), Geoff Hodgson (Hertford), Thorbjørn Knudsen (Odense), Claude

Ménard (Paris), Bart Nooteboom (Rotterdam).

This residential workshop will be held in

Offley Place, Great Offley, Hertfordshire, UK

25-27 June 2003

This residential workshop is designed to provide in-depth discussion of

cutting-edge issues in institutional economics, in a forum that permits the

attention to detail and definition that is often lacking in larger,

conference-style events. The expected maximum number of participants will

be 55. Please book early to avoid disappointment.

Great Offley is a beautiful Hertfordshire village, in between Hitchin and

Luton. It is a 4-mile taxi ride from London Luton Airport (with cheap

flights by Easyjet - see www.easyjet.com) and a 3-mile taxi ride from

Hitchin railway station (with regular trains from London King’s Cross).

There are regular bus services connecting London Luton Airport with London

Heathrow and London Stansted airports.

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"EXPLAINING THE FIRM: TRANSACTION COSTS OR CAPABILITIES?"

DRAFT PROGRAMME

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WEDNESDAY 25 JUNE 2003

14.30 Registration and Reception

16.00 Opening and Welcome

16.15-18.00 Session 1: Claude Ménard (University of Paris I) "A transaction

cost approach to hybrid organizations"

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THURSDAY 26 JUNE 2003

09.00-10.45 Session 2: Bart Nooteboom (Erasmus University Rotterdam)

"Governance and competence: How can they be combined?"

10.45 Coffee

11.15-13.00 Session 3: Geoff Hodgson (University of Hertfordshire) and

Thorbjørn Knudsen (University of Southern Denmark) "Firm-specific learning

and the nature of the firm: why transaction costs theory may provide an

incomplete explanation"

13.00 Lunch

14.00-15.45 Session 4: Nicolai Foss (Copenhagen Business School)

"
‘Contractual and competence perspectives’ 10 years after"

15.45 Tea

16.15-18.00 Session 5: Richard Carter (Business Consultant) "Empirical

tests of transaction cost economics: a critical review"

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FRIDAY 27 JUNE 2003

09.00-10.45 Session 6: Giovanni Dosi (University of Pisa) "Capabilities and

transaction costs"

10.45 Coffee

11.15-13.00 Session 7: Round Table Discussion with Richard Carter, Giovanni

Dosi, Nicolai Foss, Geoff Hodgson, Thorbjørn Knudsen, Claude Ménard, Bart

Nooteboom.

13.00 Lunch

End of Workshop

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For further information, see our web site on

http://www.herts.ac.uk/business/esst/Staff/g-hodgson/CRIE.htm

or go to

http://www.herts.ac.uk/business

and either click on "Research" or find Geoff Hodgson’s web site in the

directory of staff

Please note that places and local accommodation are both limited and you

are asked to book your place in the workshop, as well as your local

accommodation in the next few days.

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COSTS:

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THE FOLLOWING FEES APPLY FOR EARLY BOOKINGS RECEIVED BY 10 APRIL 2003.

SUBSEQUENTLY, THE FEES WILL BE RAISED.

EARLY BOOKING STANDARD RATE:

Attendance, accommodation (single bedroom) and all meals from 14.00 on 25

June to 14.00 on 27 June 190 GBP [Raised to 240 GBP from 10 April]

EARLY BOOKING REDUCED RATE:

For a limited number of people on low incomes and without any other

financial support, these costs will be reduced to the following:

Attendance, accommodation (shared bedroom) and all meals from 14.00 on 25

June to 14.00 on 27 June 90 GBP [Unavailable after 10 April]

EARLY BOOKING NON-RESIDENTIAL RATES:

Attendance and refreshments from 14.00 on 25 June to 14.00 on 27 June 100

GBP [Raised to 110 GBP from 10 April]

Residential prices include accommodation breakfast, lunch, dinner, tea and

coffee. Non-residential prices do not include meals. In the event of

cancelled attendance, a 25GBP administration charge will be deducted from

any refunds.

No reduction in fees is available for part attendance at the workshop.

Those wishing to apply for low-income rates should send a letter or email,

briefly outlining your financial circumstances, to Geoff Hodgson

(g.m.hodgson@herts.ac.uk mailing address below) by 1 April 2003. To

qualify for a low-income rate, you must affirm that you have no other means

of financing your attendance. All this information will be treated in the

strictest confidence.

The reduced (low-income) rate has been made possible thanks to a kind grant

by the Cambridge Political Economy Society Trust.

The above full costs apply also to members of, and students at, the

University of Hertfordshire, who are advised to claim these expenses from

their own departmental account.

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REGISTRATION PROCEDURE

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To reserve a place on the workshop, please send a cheque, international

money order, or full credit card details, for the full amount required in

Sterling, plus a completed application (see below) to:

Susanne Jennings <s.2.jennings@herts.ac.uk>, Research Administrator,

University of Hertfordshire Business School, Mangrove Road, Hertford,

Hertfordshire, SG13 8QF, UK

Reduced rate applications for those on low incomes require prior approval

from Geoff Hodgson (see COSTS above).

Cheques should be made payable to "University of Hertfordshire".

APPLICATION:

The cheque should be sent to Susanne Jennings (address above) accompanied

with a letter with the following information:

Your surname:

Your first name(s):

Your institution:

Your email address:

Your preferred mailing address:

Your telephone number(s):

Your fax number:

Your dietary limitations or preferences:

Indicate whether you wish to be resident or non-resident.

Non-residential status is designed for those living in commutable distance

from Hitchin or Luton. Otherwise, full residence is advised, because of the

taxi costs and the limited alternative accommodation in the area. The

booking of any such alternative accommodation is the responsibility of

participants themselves.

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Geoff Hodgson

Research Professor

Ben's Cottage, University of Hertfordshire Business School, Mangrove Road,

Hertford, Hertfordshire, SG13 8QF, UK