本文将通过增加交易风险因素来扩展杨小凯、黄有光的“斯密-科斯”模型,以分工演化为主线,用超边际分析方法整合交易成本经济学、企业战略理论与规模经济理论关于纵向产业组织的思想,旨在提供一个基于专业化经济、交易成本与交易风险的统一的纵向产业组织理论模型。 This article will expand Yang Xiaokai and Huang Youguang’s “Smith-Coase ” model by increasing the transaction risk factors, taking the evolution of labor division as the main line, integrating the transaction cost economics with the method of ultra-marginal analysis, the theory of enterprise strategy and the theory of scale economy on the vertical industry Organizational thinking aims to provide a unified theoretical model of vertical industrial organization based on specialized economies, transaction costs and transaction risks.