The Evolution Of The Theory Of The Firm

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An Evolutionary Theory of Economic Change

Author : Richard R. Nelson
Publisher : Harvard University Press
ISBN 13 : 9780674041431
Total Pages : 456 pages
Book Rating : 4.0/5 (414 download)

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Book Synopsis An Evolutionary Theory of Economic Change by : Richard R. Nelson

Download or read book An Evolutionary Theory of Economic Change written by Richard R. Nelson and published by Harvard University Press. This book was released on 1985-10-15 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Evolution of the Theory of the Firm

Author : David J. Teece
Publisher : Edward Elgar Publishing
ISBN 13 : 9781786430694
Total Pages : 0 pages
Book Rating : 4.4/5 (36 download)

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Book Synopsis The Evolution of the Theory of the Firm by : David J. Teece

Download or read book The Evolution of the Theory of the Firm written by David J. Teece and published by Edward Elgar Publishing. This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "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"--

The Theory of the Firm

Author : Paul Walker
Publisher : Taylor & Francis
ISBN 13 : 1317277031
Total Pages : 212 pages
Book Rating : 4.3/5 (172 download)

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Book Synopsis The Theory of the Firm by : Paul Walker

Download or read book The Theory of the Firm written by Paul Walker and published by Taylor & Francis. This book was released on 2016-09-13 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Resource-Based and Evolutionary Theories of the Firm

Author : Cynthia A. Montgomery
Publisher : Springer Science & Business Media
ISBN 13 : 1461522013
Total Pages : 277 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis Resource-Based and Evolutionary Theories of the Firm by : Cynthia A. Montgomery

Download or read book Resource-Based and Evolutionary Theories of the Firm written by Cynthia A. Montgomery and published by Springer Science & Business Media. This book was released on 2011-06-27 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Evolution of Business

Author : Ellen Korsager
Publisher : Routledge
ISBN 13 : 1351395602
Total Pages : 176 pages
Book Rating : 4.3/5 (513 download)

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Book Synopsis The Evolution of Business by : Ellen Korsager

Download or read book The Evolution of Business written by Ellen Korsager and published by Routledge. This book was released on 2018-09-14 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Origin and the Evolution of Firms

Author : J.A. Roels
Publisher : IOS Press
ISBN 13 : 1607509571
Total Pages : 232 pages
Book Rating : 4.6/5 (75 download)

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Book Synopsis The Origin and the Evolution of Firms by : J.A. Roels

Download or read book The Origin and the Evolution of Firms written by J.A. Roels and published by IOS Press. This book was released on 2012-03 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Nature of the Firm

Author : Oliver E. Williamson
Publisher : Oxford University Press, USA
ISBN 13 : 9780195083569
Total Pages : 260 pages
Book Rating : 4.0/5 (835 download)

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Book Synopsis The Nature of the Firm by : Oliver E. Williamson

Download or read book The Nature of the Firm written by Oliver E. Williamson and published by Oxford University Press, USA. This book was released on 1993 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Firms, Organization and Labour

Author : Frank H. Stephen
Publisher : Palgrave Macmillan
ISBN 13 : 9781349066650
Total Pages : 221 pages
Book Rating : 4.0/5 (666 download)

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Book Synopsis Firms, Organization and Labour by : Frank H. Stephen

Download or read book Firms, Organization and Labour written by Frank H. Stephen and published by Palgrave Macmillan. This book was released on 2014-01-14 with total page 221 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Economics of the Firm

Author : Michael Dietrich
Publisher : Routledge
ISBN 13 : 1134158300
Total Pages : 256 pages
Book Rating : 4.1/5 (341 download)

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Book Synopsis Economics of the Firm by : Michael Dietrich

Download or read book Economics of the Firm written by Michael Dietrich and published by Routledge. This book was released on 2006-11-22 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

A Market Process Theory of the Firm

Author : Mateusz Machaj
Publisher : Routledge
ISBN 13 : 1000412849
Total Pages : 164 pages
Book Rating : 4.0/5 (4 download)

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Book Synopsis A Market Process Theory of the Firm by : Mateusz Machaj

Download or read book A Market Process Theory of the Firm written by Mateusz Machaj and published by Routledge. This book was released on 2021-07-14 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Theory of the Firm

Author : Nicolai J. Foss
Publisher : Taylor & Francis
ISBN 13 : 9780415196413
Total Pages : 536 pages
Book Rating : 4.1/5 (964 download)

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Book Synopsis The Theory of the Firm by : Nicolai J. Foss

Download or read book The Theory of the Firm written by Nicolai J. Foss and published by Taylor & Francis. This book was released on 2000 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Oxford Handbook of Strategy

Author : David Faulkner
Publisher : Oxford University Press
ISBN 13 : 9780198782551
Total Pages : 548 pages
Book Rating : 4.7/5 (825 download)

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Book Synopsis The Oxford Handbook of Strategy by : David Faulkner

Download or read book The Oxford Handbook of Strategy written by David Faulkner and published by Oxford University Press. This book was released on 2003-02-13 with total page 548 pages. Available in PDF, EPUB and Kindle. Book excerpt: This two-volume handbook presents an authoritative and up-to-date analysis of how thinking on strategy has evolved and what are the likely developments in the near future. All the contributors are experts in their area, and bring to the topic an understanding informed by many years' experience of research, teaching, and practice. Volume One focuses on two major areas: first, the various different approaches to strategy, and secondly, the development of competitive or business unit strategy, where the pursuit of sustainable competitive advantage is the key objective.

Institutions and the Evolution of Modern Business

Author : Mark Casson
Publisher : Psychology Press
ISBN 13 : 9780714648453
Total Pages : 200 pages
Book Rating : 4.6/5 (484 download)

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Book Synopsis Institutions and the Evolution of Modern Business by : Mark Casson

Download or read book Institutions and the Evolution of Modern Business written by Mark Casson and published by Psychology Press. This book was released on 1998 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: The nine contributions in this volume attempt to demonstrate the applications of institutional theory to business history and show how the wider study of the institutional environment is inseparable from the study of business. Contributions include an evaluation of community structure and competitive advantage within the Yorkshire woolen industry; a comparative view of financial reconstruction and industrial reorganization in British and Swedish institutions during the Inter-War period; and post- war strategic capitalism in Norway. Paper edition (unseen), $19.50. Distributed by ISBS. Annotation copyrighted by Book News, Inc., Portland, OR

A Cognitive Theory of the Firm

Author : B. Nooteboom
Publisher : Edward Elgar Publishing
ISBN 13 : 1848447426
Total Pages : 295 pages
Book Rating : 4.8/5 (484 download)

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Book Synopsis A Cognitive Theory of the Firm by : B. Nooteboom

Download or read book A Cognitive Theory of the Firm written by B. Nooteboom and published by Edward Elgar Publishing. This book was released on 2009 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: . . . 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.

Towards a Competence Theory of the Firm

Author : Nicolai J. Foss
Publisher : Routledge
ISBN 13 : 1317798767
Total Pages : 220 pages
Book Rating : 4.3/5 (177 download)

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Book Synopsis Towards a Competence Theory of the Firm by : Nicolai J. Foss

Download or read book Towards a Competence Theory of the Firm written by Nicolai J. Foss and published by Routledge. This book was released on 2013-12-02 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Theory of the Growth of the Firm

Author : Edith Penrose
Publisher : OUP Oxford
ISBN 13 : 0191623423
Total Pages : 301 pages
Book Rating : 4.1/5 (916 download)

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Book Synopsis The Theory of the Growth of the Firm by : Edith Penrose

Download or read book The Theory of the Growth of the Firm written by Edith Penrose and published by OUP Oxford. This book was released on 2009-09-24 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are not many books that are genuine classics, and only a handful in business and management whose insights and ideas last for 50 years and more. This book is one of the very few 'must reads' for anybody seriously interested in the role of management within the firm. Originally published in 1959, The Theory of the Growth of the Firm has illuminated and inspired thinking in strategy, entrepreneurship, knowledge creation, and innovation. Edith Penrose's tightly-argued classic laid the foundations for the resource based view of the firm, now the dominant framework in business strategy. She analyses managerial activities and decisions, organizational routines, and also the factors that inevitably limit a firm's growth prospects. For this new anniversary edition, Christos Pitelis has written a new introduction which both tells the story of Penrose's extraordinary life, and provides a balanced assessment of her key ideas and their continuing relevance and freshness.

An Autecological Theory of the Firm and its Environment

Author : Colin Jones
Publisher : Edward Elgar Publishing
ISBN 13 : 1784711012
Total Pages : 240 pages
Book Rating : 4.7/5 (847 download)

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Book Synopsis An Autecological Theory of the Firm and its Environment by : Colin Jones

Download or read book An Autecological Theory of the Firm and its Environment written by Colin Jones and published by Edward Elgar Publishing. This book was released on 2017-06-30 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: The process of firm-level adaptation and survival have historically been of great interest to researchers of firms. However, these researchers have previously been denied an ecological framework within which to study the processes through which individual firms respond to and indeed, modify their individual environments. This book remedies this situation, providing the first comprehensive introduction to organisational autecology, or, the study of individual firms and the environments they interact with and typically modify to ensure their survival. In addition to establishing the theoretical and philosophical foundations of organisational autecology, the empirical application of this new approach is demonstrated and its future application to the domain of organisational studies is contemplated.