A concern with teams was central to early attempts to grasp the nature of the firm, but fell out of favor in later work. We encourage a return to the emphasis on teams, but argue that the idea of teams as central to the nature of the firm needs to be grounded in an appreciation of the importance...

The study of entrepreneurship and the study of economic organizing lack contact. In fact, the modern theory of the firm virtually ignores entrepreneurship, while the literature on entrepreneurship often sees little value in the economic theory of the firm. In contrast, we argue in this chapter...

We describe and discuss Ronald Coase's approach to managerial authority, placing it in the broader context of recent economics and management research on intrafirm coordination. To do so, we make use of work by Coase that is relatively little known, namely his writings on opportunity cost...

I offer a chronologically-based discussion of my contributions to the entrepreneurship field. These mainly have to do with revitalizing the Knightian approach to entrepreneurshop (i.e., the judgment view), bringing entrepreneurship theory and the theory of the firm together, and linking...

Since its emergence in the 1970s the modern economic or Coasian theory of the firm has been discussed and challenged by sociologists, heterodox economists, management scholars, and other critics. This chapter reviews and assesses these critiques, focusing on behavioral issues (bounded...