NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Integration and Information: Markets and Hierarchies Revisited

Robert S. Gibbons, Richard T. Holden, Michael L. Powell

NBER Working Paper No. 15779
Issued in February 2010

---- Acknowledgements -----

We thank Daron Acemoglu, Philippe Aghion, Mathias Dewatripont, Glenn Ellison, Oliver Hart, Bengt Holmstrom, Birger Wernerfelt, Oliver Williamson, and seminar participants at Chicago, Harvard, MIT, Northwestern, Queen’s, Toronto and USC for helpful comments. All three authors thank MIT Sloan’s Program on Innovation in Markets and Organizations for financial support, and Powell also thanks the NSF. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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