TL;DRAbstract
THIS PAPER is primarily theoretical. It proposes: first, to provide a conceptual frame work of the vertical structure of firms; second, to define briefly the elements of a basic model which emphasizes changes in vertical structure; and, third, to demonstrate the logic of the theory in the light of structural changes that are in evidence in hog-production and its adjacent sectors. The purpose is not to destroy or to supplant the existing theory of the firm, but rather, to add to it through the introduction of a vertical dimension as an explicit variable relevant to decisions in the general area of vertical integration.
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THIS PAPER is primarily theoretical. It proposes: first, to provide a conceptual frame work of the vertical structure of firms; second, to define briefly the elements of a basic model which emphasizes changes in vertical structure; and, third, to demonstrate the logic of the theory in the light of structural changes that are in evidence in hog-production and its adjacent sectors. The purpose is not to destroy or to supplant the existing theory of the firm, but rather, to add to it through the introduction of a vertical dimension as an explicit variable relevant to decisions in the general area of vertical integration.
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