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An invitation to participate in the FIFTH INTERNATIONAL WORKSHOP ON INSTITUTIONAL ECONOMICS "EXPLAINING THE FIRM: TRANSACTION COSTS OR CAPABILITIES?" Organised by the Centre for Research in Institutional Economics, University of Hertfordshire, UK. Speakers (subject to final confirmation) include: 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. --------------------------------------------------------------- "EXPLAINING THE FIRM: TRANSACTION COSTS OR CAPABILITIES?" DRAFT PROGRAMME --------------------------------------------------------------- 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" --------------------------------------------------------------- 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" --------------------------------------------------------------- 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 --------------------------------------------------------------- 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. ----------------------------------------------------------- COSTS: ----------------------------------------------------------- THE FOLLOWING FEES APPLY FOR EARLY BOOKINGS RECEIVED BY 28 FEBRUARY 2003. SUBSEQUENTLY, THE FEES MAY BE RAISED. EARLY STANDARD RATE: Attendance, accommodation (single bedroom) and all meals from 14.00 on 25 June to 14.00 on 27 June - 190 GBP EARLY 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 EARLY NON-RESIDENTIAL RATES: Attendance and refreshments from 14.00 on 25 June to 14.00 on 27 June - 100 GBP 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 reduced fees are 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 ([log in to unmask] - mailing address below). This information will be treated in the strictest confidence. The above 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. ----------------------------------------------------------- REGISTRATION PROCEDURE ----------------------------------------------------------- To reserve a place on the workshop, please send a cheque or international money order for the full amount required in Sterling, plus a completed application (see below) to: Susanne Jennings <[log in to unmask]>, 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. ----------------------------------------------------------- I hope very much that you will be able to participate in this event. Geoff Hodgson Research Professor Ben's Cottage, University of Hertfordshire Business School, Mangrove Road, Hertford, Hertfordshire, SG13 8QF, UK <[log in to unmask]> ----------------------------------------------------------- Geoff Hodgson Research Professor University of Hertfordshire http://www.herts.ac.uk/business/esst/Staff/g-hodgson/hodgson.html Mailing Address: Malting House, 1 Burton End, West Wickham, Cambridge CB1 6SD ------------------------------