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Firms, Markets and Economic Change by Richard N. Langlois,Paul L. Robertson Pdf
Traditonal western forms of corporate organization have been called into question by the success of Japanese keiretsu. Firms, Markets and Economic Change draws on industrial economics, business strategy, and economic history to develop an evolutionary model to show when innovation is best undertaken. The authors argue that innovation is a complex p
The Economics of Creativity by Pierre-Michel Menger Pdf
Creative work has been celebrated as the highest form of achievement since at least Aristotle. But our understanding of the dynamics and market for creative work--artistic work in particular--often relies on unexamined clichés about individual genius, industrial engineering of talent, and the fickleness of fashion. Pierre-Michel Menger approaches the subject with new rigor, drawing on sociology, economics, and philosophy to build on the central insight that, unlike the work most of us do most of the time, creative work is governed by uncertainty. Without uncertainty, neither self-realization nor creative innovation is possible. And without techniques for managing uncertainty, neither careers nor profitable ventures would surface. In the absence of clear paths to success, an oversupply of artists and artworks generates boundless differentiation and competition. How can artists, customers, entrepreneurs, and critics judge merit? Menger disputes the notion that artistic success depends solely on good connections or influential managers and patrons. Talent matters. But the disparity between superstardom and obscurity may hinge initially on minor gaps in intrinsic ability. The benefits of early promise in competition and the tendency of elite professionals to team up with one another amplify and disproportionately reward even small differences. Menger applies his temporal and causal analysis of behavior under uncertainty to the careers and oeuvres of Beethoven and Rodin. The result is a thought-provoking book that brings clarity to our understanding of a world widely seen as either irrational or so free of standards that only power and manipulation count.
Author : Naomi R. Lamoreaux,Daniel M. G. Raff,Peter Temin Publisher : University of Chicago Press Page : 356 pages File Size : 47,6 Mb Release : 2007-11-01 Category : Business & Economics ISBN : 9780226468433
Learning by Doing in Markets, Firms, and Countries by Naomi R. Lamoreaux,Daniel M. G. Raff,Peter Temin Pdf
Learning by Doing in Markets, Firms, and Countries draws out the underlying economics in business history by focusing on learning processes and the development of competitively valuable asymmetries. The essays show that organizations, like people, learn that this process can be organized more or less effectively, which can have major implications for how competition works. The first three essays in this volume explore techniques firms have used to both manage information to create valuable asymmetries and to otherwise suppress unwelcome competition. The next three focus on the ways in which firms have built special capabilities over time, capabilities that have been both sources of competitive advantage and resistance to new opportunities. The last two extend the notion of learning from the level of firms to that of nations. The collection as a whole builds on the previous two volumes to make the connection between information structure and product market outcomes in business history.
Author : Jonathan M. Barnett Publisher : Oxford University Press, USA Page : 257 pages File Size : 49,9 Mb Release : 2021-01-17 Category : Law ISBN : 9780190908591
Innovators, Firms, and Markets by Jonathan M. Barnett Pdf
"This book presents a theoretical, historical and empirical account of the relationship between intellectual property rights, organizational type and market structure. Patents expand transactional choice by enabling smaller R&D-intensive firms to compete against larger firms that wield difficult-to-replicate financing, production and distribution capacities. In particular, patents enable upstream firms that specialize in innovation to exchange informational assets with downstream firms that specialize in commercialization, lowering capital and technical requirements that might otherwise impede entry. These theoretical expectations track a novel organizational history of the U.S. patent system during 1890-2006. Periods of strong patent protection tend to support innovation ecosystems in which smaller innovators can monetize R&D through financing, licensing and other relationships with funding and commercialization partners. Periods of weak patent protection tend to support innovation ecosystems in which innovation and commercialization mostly take place within the end-to-end structures of large integrated firms. The proposed link between IP rights and organizational type tracks evidence on historical and contemporary patterns in IP lobbying and advocacy activities. In general, larger and more integrated firms (outside pharmaceuticals) tend to advocate for weaker patents, while smaller and less integrated firms (and venture capitalists who back those firms) tend to advocate for stronger patents. Contrary to conventional assumptions, the economics, history and politics of the U.S. patent system suggest that weak IP rights often shelter large incumbents from the entry threat posed by smaller R&D-specialist entities"--
Markets for Technology by Ashish Arora,Andrea Fosfuri,Alfonso Gambardella Pdf
The past two decades have seen a gradual but noticeable change in the economic organization of innovative activity. Most firms used to integrate research and development with activities such as production, marketing, and distribution. Today firms are forming joint ventures, research and development alliances, licensing deals, and a variety of other outsourcing arrangements with universities, technology-based start-ups, and other established firms. In many industries, a division of innovative labor is emerging, with a substantial increase in the licensing of existing and prospective technologies. In short, technology and knowledge are becoming definable and tradable commodities. Although researchers have made significant advances in understanding the determinants and consequences of innovation, until recently they have paid little attention to how innovation functions as an economic process. This book examines the nature and workings of markets for intermediate technological inputs. It looks first at how industry structure, the nature of knowledge, and intellectual property rights facilitate the development of technology markets. It then examines the impacts of these markets on firm boundaries, the division of labor within the economy, industry structure, and economic growth. Finally, it examines the implications of this framework for public policy and corporate strategy. Combining theoretical perspectives from economics and management with empirical analysis, the book also draws on historical evidence and case studies to flesh out its research results.
International Strategy of Emerging Market Firms by Andrei Panibratov Pdf
Emerging economies are expected to be in the driver's seat of the global economy in the medium and long term. Large multinational corporations will account for much of this activity. In this textbook, Andrei Panibratov explains how emerging market firms accumulate and exploit market knowledge to develop competitive advantages whilst operating globally. Chapters dedicated to the key emerging economies - Brazil, Russia, India and China (BRIC) - are enhanced by detailed case studies of large firms’ activities. The book is divided into four parts, focusing on the following: An outline of the relevant terminology and the context of the international strategy of emerging market firms, providing an introductory foundation for the whole book. A guide to the evolution of perspectives regarding international strategy, designed to illustrate the changes and trends in the recent academic research on internationalization. A country-by-country illustration of the internationalization of BRIC economies and firms, providing an overall picture of each country’s global integration, outward investments, and strategies. The concepts and practices behind the strategies employed by different firms. Written by an established international business scholar, this book is essential reading for students of international strategy who wish to understand the importance of the emerging economies.
Author : R. H. Coase Publisher : University of Chicago Press Page : 226 pages File Size : 50,6 Mb Release : 2012-06-15 Category : Business & Economics ISBN : 9780226051208
The Firm, the Market, and the Law by R. H. Coase Pdf
Few other economists have been read and cited as often as R.H. Coase has been, even though, as he admits, "most economists have a different way of looking at economic problems and do not share my conception of the nature of our subject." Coase's particular interest has been that part of economic theory that deals with firms, industries, and markets—what is known as price theory or microeconomics. He has always urged his fellow economists to examine the foundations on which their theory exists, and this volume collects some of his classic articles probing those very foundations. "The Nature of the Firm" (1937) introduced the then-revolutionary concept of transaction costs into economic theory. "The Problem of Social Cost" (1960) further developed this concept, emphasizing the effect of the law on the working of the economic system. The remaining papers and new introductory essay clarify and extend Coarse's arguments and address his critics. "These essays bear rereading. Coase's careful attention to actual institutions not only offers deep insight into economics but also provides the best argument for Coase's methodological position. The clarity of the exposition and the elegance of the style also make them a pleasure to read and a model worthy of emulation."—Lewis A. Kornhauser, Journal of Economic Literature Ronald H. Coase was awarded the Nobel Prize in Economic Science in 1991.
Dynamics of International Business by Andrea Colli Pdf
The Dynamics of International Business offers a comparative, chronological overview of the strategic and structural evolution of international firms. Organized around eras of global economic development, the text synthesizes research on the internationalization of firms, highlighting crucial turning points in the evolution of the international economy. A particular emphasis is placed on the relationship between historical evidence and the theoretical frameworks available for its interpretation. Each period is illustrated by a selection of short case studies from a variety of industry sectors, including the Levant Company, Nestlé, Singer, Saint Gobain and NEC. An essential textbook for courses in business and economic history, this book will also be a valuable resource for scholars and students of international business more generally.
Market Structure and Equilibrium by Heinrich von Stackelberg Pdf
In his book „Marktform und Gleichgewicht“, published initially in 1934, Heinrich von Stackelberg presented his groundbreaking leadership model of firm competition. In a work of great originality and richness, he described and analyzed a market situation in which the leader firm moves first and the follower firms then move sequentially. This game-theoretic model, now widely known as Stackelberg competition, has had tremendous impact on the theory of the firm and economic analysis in general, and has been applied to study decision-making in various fields of business. As the first translation of von Stackelberg’s book into English, this volume makes his classic work available in its original form to an English-speaking audience for the very first time.
Law has become a buyer's market, and it's never going back. Re-envisioning the purpose of law firms and the role of lawyers, Jordan Furlong has designed a transformative client-first law firm that rethinks the business model, culture, service, competitiveness, growth strategies, diversity, and leadership of modern legal enterprises.
Handbook of New Institutional Economics by Claude Ménard,Mary M. Shirley Pdf
New Institutional Economics (NIE) has skyrocketed in scope and influence over the last three decades. This first Handbook of NIE provides a unique and timely overview of recent developments and broad orientations. Contributions analyse the domain and perspectives of NIE; sections on legal institutions, political institutions, transaction cost economics, governance, contracting, institutional change, and more capture NIE's interdisciplinary nature. This Handbook will be of interest to economists, political scientists, legal scholars, management specialists, sociologists, and others wishing to learn more about this important subject and gain insight into progress made by institutionalists from other disciplines. This compendium of analyses by some of the foremost NIE specialists, including Ronald Coase, Douglass North, Elinor Ostrom, and Oliver Williamson, gives students and new researchers an introduction to the topic and offers established scholars a reference book for their research.
