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The paper begins by providing a brief overview and discussion of the modern economics of organization, concentrating in particular on the work of incomplete contract theorists. I then turn to a discussion of Loasby’s view of the firm and incomplete contracts. The point here is that while...
Persistent link: https://www.econbiz.de/10005839241
Persistent link: https://www.econbiz.de/10005627333
The paper aims at ‘embedding’ the outsourcing firm by considering it as a four-fold unit of analysis: i.e. as an organizational, production, industrial and innovation unit. Theoretical correlations between outsourcing decisions and outsourcing variables are formulated and then tested with...
Persistent link: https://www.econbiz.de/10005273114
The paper aims at investigating how far transaction costs economics (TCE) concurs in the explanation of outsourcing decisions in firms characterized by “thick’ industrial relations, that is where unions and employees are involved in, and are sometimes able to affect, the relative managerial...
Persistent link: https://www.econbiz.de/10008587583
Ever 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...
Persistent link: https://www.econbiz.de/10005627318
We argue that since Coase’s seminal 1937 paper on “The Nature of the Firm,” there has been an odd and unjustified separation between price theory and the economics of organization. For example, matters of production has been the domain of the former exclusively. However, a new approach to...
Persistent link: https://www.econbiz.de/10005627341
Knowledge management has emerged as a very successful organization practice and has been extensively treated in a large body of academic work. Surprisingly, however, organizational economics (i.e., transaction cost economics, agency theory, team theory and property rights theory) has played no...
Persistent link: https://www.econbiz.de/10005839207
I discuss and compare alternative approaches to integrating bounded rationality with the theory of economic organization, concentrating on the organizational capabilities approach, which is strongly influenced by the works of Nelson and Winter, organizational economics, particularly transaction...
Persistent link: https://www.econbiz.de/10005273115
In this paper I argue that quality standards, products standards, and quality classes influence the priority that firms give to different product developments. These standards may be viewed as institutions in the sense of shared rules of behavior or codes. They have become shared because there...
Persistent link: https://www.econbiz.de/10005169045
The role of transaction cost economics in developing research in strategy has been a hotly debated topic over the last decade. This paper presents the radical argument that transaction cost insights are more than merely useful complements to existing approaches to strategy. Rather, they are...
Persistent link: https://www.econbiz.de/10005273143