Through its modern approach to managerial economics, TRANSACTIONS AND STRATEGIES: ECONOMICS FOR MANAGERS prepares readers to become more informed business decision makers. Organized around the idea that transactions are the fundamental unit of economics, and that their governance by markets, contracts, or organizations is the most important economic question for businesses to cope with, this revolutionary book uses vivid examples from around the world to illustrate relevant theory. Through these examples, readers will learn the core economic theory of markets when transactions are standardized as well as up-to-date information on contracts, organizational design, and risk and asymmetric information.