The Evolution Of The Theory Of The Firm

Author : David J. Teece,Neil M. Kay
Publisher : Edward Elgar Publishing
Page : 0 pages
File Size : 51,6 Mb
Release : 2019
Category : Business enterprises
ISBN : 178643069X

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The Evolution of the Theory of the Firm by David J. Teece,Neil M. Kay Pdf

"This innovative collection of readings analyses how the theory of the firm evolved from several core concepts and building blocks that underpin this important area of economics. The first volume presents a variety of perspectives from leading scholars in the field before introducing the basic elements of: risk and uncertainty; information and knowledge; bounded rationality and decision making; motives and incentives; resources and capabilities; and transactions. The second volume looks at how the various elements are integrated into the modern Theory of the Firm with the notion of organization coming increasingly to the fore. It focuses on norms; rules and routines; the entrepreneur; governance; hierarchies; co-operation, teams and networks; innovation and appropriability. Together with an introduction by the editors, this collection is an invaluable reference tool for all researchers and students with an interest in the modern theory of the firm, highlighting how it needs to evolve further to address the important management and policy issues of our time"--

Author : Richard R. Nelson
Publisher : Harvard University Press
Page : 456 pages
File Size : 42,8 Mb
Release : 1985-10-15
Category : Business & Economics
ISBN : 0674041437

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An Evolutionary Theory of Economic Change by Richard R. Nelson Pdf

This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.

Author : Paul Walker
Publisher : Taylor & Francis
Page : 212 pages
File Size : 52,8 Mb
Release : 2016-09-13
Category : Business & Economics
ISBN : 9781317277033

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The Theory of the Firm by Paul Walker Pdf

Firms are a ubiquitous feature of the economic landscape, with much of the activity undertaken within an economy taking place within their boundaries. Given the size of the contribution made by firms to economic activity, employment and growth, having a theoretical understanding of the nature and structure of firms is crucial for understanding how an economy functions. The Theory of the Firm firstly offers a brief overview of the past, consisting of a concise discussion of the classical view of production, followed by an outline of the development of the neoclassical - or ‘textbook’ - approach to firm level production. Secondly, the ‘present’ of the theory of the firm is discussed in three sections. The first section considers the post-1970 theory of the firm literature per se, while the second section scrutinises the relationship between the three most prominent of the modern sets of theories: the reference point, property rights and transaction cost approaches. The third section looks at the theory of privatisation. The unique aspects of this book includes its discussions of the post-1970 contributions to the theory of the firm; the integration of the theory of the entrepreneur with the theory of the firm; and the theory of privatisation. This volume offers an intuitive introduction to the theories of the firm as well as simple formal models of the most important contributions to the literature. It also outlines the historical evolution of the traditional and modern theories of the firm. This book is of great interest to those who study history of economic thought, industrial economics and organizational studies.

Author : Cynthia A. Montgomery
Publisher : Springer Science & Business Media
Page : 277 pages
File Size : 47,9 Mb
Release : 2011-06-27
Category : Business & Economics
ISBN : 9781461522010

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Resource-Based and Evolutionary Theories of the Firm by Cynthia A. Montgomery Pdf

Resource-Based and Evolutionary Theories of the Firm: Towards a Synthesis explores the intersection of evolutionary theories of the firm with an emergent body of research in the field of strategic management that has been broadly referred to as the `resource-based view of the firm'. The volume approaches strategic questions from several vantage points, thereby fostering a useful cross-fertilization of ideas. The views presented spring from a variety of sources, namely the principles of strategic management, organisation economics, and population ecology.

Author : Nicolai J. Foss
Publisher : Taylor & Francis
Page : 536 pages
File Size : 46,5 Mb
Release : 2000
Category : Business & Economics
ISBN : 0415196418

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The Theory of the Firm by Nicolai J. Foss Pdf

Author : Ellen Korsager
Publisher : Routledge
Page : 176 pages
File Size : 53,5 Mb
Release : 2018-09-14
Category : Business & Economics
ISBN : 9781351395601

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The Evolution of Business by Ellen Korsager Pdf

Firm growth. This concept has interested researchers for generations. Economists have sought to predict and measure firm growth using a host of different variables, while strategic management scholars depict growth as the result of clever analyses and rational resource exploitation. Entrepreneurship scholars - ever engrossed by successful start-ups - have pondered why growth sometimes comes fast and sometimes never at all, while the field of business history has given countless examples of growing firms in a range of different settings. Yet despite research across fields, our knowledge of how growth in a firm actually comes about is limited and we still know little about the process. This book offers a new reading of economist Edith Penrose’s The Theory of the Growth of the Firm. The bold statement is that although Penrose’s work - across fields and generations - is amongst the most quoted on firm growth, the basic points of her work have yet to be realized and explored empirically. Essentially, growth is created by a dynamic interrelation between the firm’s self-conception and its image of context. Based on these two subjective categories, the firm makes decisions and its actions lead it to develop along a particular path. To Penrose this is the basic engine that drives the growth and development of firms. This book discusses how the engine of firm growth can be captured in empirical analysis using interpretative theory and narrative methods inspired by recent streams of research in business history.

Author : Oliver E. Williamson,Sidney G. Winter
Publisher : Oxford University Press, USA
Page : 260 pages
File Size : 52,9 Mb
Release : 1993
Category : Business & Economics
ISBN : 0195083563

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The Nature of the Firm by Oliver E. Williamson,Sidney G. Winter Pdf

This volume features a series of essays which arose from a conference on economics, addressing the question: what is the nature of the firm in economic analysis? This paperback edition includes the Nobel Lecture of R.N. Case.

Author : J.A. Roels
Publisher : IOS Press
Page : 232 pages
File Size : 46,5 Mb
Release : 2012-03
Category : Business & Economics
ISBN : 9781607509578

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The Origin and the Evolution of Firms by J.A. Roels Pdf

The firms and markets of today's complex socio-economic system developed in a spontaneous process termed evolution, in just the same way as the universe, the solar system, the Earth and all that lives upon it. Darwin's theory of evolution clearly demonstrated that evolution involved increasing organization. As we began to explore the molecular basis of life and its evolution, it became equally clear that it depended on the processing and communication of information. This book develops a consistent theory of evolution in its wider sense, examining the information based laws and forces that drive it. Exploring subjects as diverse as economics and the theories of thermodynamics, the author revisits the paradox of the apparent conflict between the laws of thermodynamics and evolution to arrive at a systems theory, tracing a continuous line of evolving information sets that connect the Big-Bang to the firms and markets of our current socio-economic system.

Author : Michael Dietrich
Publisher : Routledge
Page : 292 pages
File Size : 45,8 Mb
Release : 2006-11-22
Category : Business & Economics
ISBN : 9781134158300

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Economics of the Firm by Michael Dietrich Pdf

This book brings together some of the world's leading experts to present an interdisciplinary, critical perspective on current issues surrounding the economics of the firms. It eschews standard approaches to the economics of the firm (including analysis of transaction costs) in favour of a more interdisciplinary outlook, with evolutionary economics taken into account. Central to this is the concept of trust and the belief that any approach to the firm must recognize cultural and political factors. The chapters emphasize the themes of change and evolution and explore issues arising from the history and organization of firms. An important book, with contributions from Bart Nooteboom, Stavros Ioannides and Werner Holzl, this is an invaluable resource for postgraduate students of economics.

Author : Mateusz Machaj
Publisher : Routledge
Page : 164 pages
File Size : 44,8 Mb
Release : 2021-07-14
Category : Business & Economics
ISBN : 9781000412840

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A Market Process Theory of the Firm by Mateusz Machaj Pdf

Neoclassical economics has been criticized from various angles by orthodox schools. The same can be said about its particular branch: the theory of the firm. This book demonstrates how a successful theory of the firm can be presented without flawed notions of a neoclassical framework and used to comprehend actual business history. The author argues that we should start from the assumption that businesses are inevitably imponderable, as that is their nature, in the process of economic evolution. The book offers an in-depth exploration of neoclassical limitations by examining each of the small details associated with the famous MR = MC rule. It follows a step-by-step approach, which starts off with neoclassical assumptions and then moves into more empirically sound theory, based on modeling logic and rooted in real world examples. The author presents a novel discussion on the size of the firm, both in terms of classifying a firm’s expansion and about the factors that limit the size of the firm and argues how formal pricing theory can be built using more indeterminate assumptions about firms. Further, there is a discussion on how firms are rooted in amorphous industries, which helps to explain economic progress better by emphasizing the importance of economic experiments, mistakes and bankruptcies. This is a valuable reference for scholars and researchers who are interested in a range of topics from microeconomics, through pricing theory to industrial organization, history of economic thought and managerial economics.

Author : Frank H. Stephen
Publisher : Palgrave Macmillan
Page : 221 pages
File Size : 53,6 Mb
Release : 2014-01-14
Category : Business & Economics
ISBN : 1349066656

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Firms, Organization and Labour by Frank H. Stephen Pdf

Author : Anonim
Publisher : Unknown
Page : 236 pages
File Size : 47,6 Mb
Release : 2007
Category : Industrial organization (Economic theory)
ISBN : OCLC:652205890

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Economics of the Firm by Anonim Pdf

Author : Dunn, Malcolm
Publisher : Universitätsverlag Potsdam
Page : 386 pages
File Size : 50,6 Mb
Release : 2014-01-16
Category : Business enterprises
ISBN : 9783869562476

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Inside the capitalist firm by Dunn, Malcolm Pdf

This book deals with the inner life of the capitalist firm. There we find numerous conflicts, the most important of which concerns the individual employment relationship which is understood as a principal-agent problem between the manager, the principal, who issues orders that are to be followed by the employee, the agent. Whereas economic theory traditionally analyses this relationship from a (normative) perspective of the firm in order to support the manager in finding ways to influence the behavior of the employees, such that the latter – ideally – act on behalf of their superior, this book takes a neutral stance. It focusses on explaining individual behavioral patterns and the resulting interactions between the actors in the firm by taking sociological, institutional, and above all, psychological research into consideration. In doing so, insights are gained which challenge many assertions economists take for granted.

Author : Nicolai J. Foss,Christian Knudsen
Publisher : Routledge
Page : 220 pages
File Size : 48,9 Mb
Release : 2013-12-02
Category : Business & Economics
ISBN : 9781317798767

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Towards a Competence Theory of the Firm by Nicolai J. Foss,Christian Knudsen Pdf

This book explores a new theory of the firm produced through an exchange between management theory and economics. In the process economics is seen to provide a foundational element for strategy research whilst developing a more realistic theory of the firm with a greater emphasis on its internal features. The success of competence theories of the firm also reflects their ability to explain significant trends in the business world, notably the declining importance of conglomerates and critical features in the success of Asian and Japanese business.

Author : B. Nooteboom
Publisher : Edward Elgar Publishing
Page : 295 pages
File Size : 55,5 Mb
Release : 2009
Category : Business & Economics
ISBN : 9781848447424

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A Cognitive Theory of the Firm by B. Nooteboom Pdf

. . . some excellent applications of contemporary scholarship to the major public sector innovation issues of the day. And, if you are more interested in cognitive psychology or evolutionary theory than public sector innovation, this book stands out as an excellent application of constructivist, cognitive evolutionary theory to a field in which you may previously have had little interest. Either way, the journey will have been worthwhile for anyone wishing to take it. Howard A. Doughty, The Innovation Journal: The Public Sector Innovation Journal A thought provoking, original and personal contribution to the emerging field of cognitive economics, integrating insights from a variety of innovative research streams in neighboring social sciences including neural science, social cognition, strategy and organization, and social network analysis. Anna Grandori, Bocconi University, Italy Among scholars writing about business firms, Bart Nooteboom stands out both in his ability to bring relevant perspectives from diverse disciplines together to illuminate phenomena, and in his solid understanding of how firms actually work. For many years he has had a central interest in how firms cope with challenges, problem solving mechanisms in firms, and innovation. These qualities make this an important book. Nooteboom also writes very well, and the book is a pleasure to read. Richard R. Nelson, Columbia University, US In this important and timely book, Bart Nooteboom develops and applies a social cognitive theory of firms and organizations with a focus on learning and innovation. Why explore a cognitive theory of the firm? This enlightening study explains that a cognitive theory of the firm is required in order to lend more substance and analysis to current vague and unconnected ad hoc notions in the literature, such as entrepreneurial vision, absorptive capacity, and variety and dispersion of knowledge. The author explores the notion of differential cognition, drawing together the work of Hayek, Schumpeter and Penrose to shed light on the sources of innovation. This interdisciplinary book connects ideas from specific branches of economics, management and organization, cognitive science, social psychology and sociology and will be invaluable to students and scholars interested in a new perspective on the firm.