The paper argues that the furniture industry, because it is low-tech, mature, and thus easy to grasp technology-wise, is an excellent case for investigating some basic notions on the rise within the economics of organisation. The paper concentrates on the growing incidence of flexible...

The paper analyses management of product innovation in project-based industries, offering a view on management not only of firms, but also of markets. It first argues that projects are prominent in industries where the nature of consumer demand means that product innovation takes place as...

In this speculative paper, it is argued that learning is an evolutionary process, operating at the level of the individual, the firm, and organised markets. Why these latter may be localised is investigated. Learning as such is depicted as an interactive process of reproducing and/or creating...

The theoretical perspective of “localised learning” has been accused of not only being “fuzzy”, but also of being incapable of providing policy prescriptions. This paper sets out to discover whether deducting policy advice from the localised learning literature does in fact pose a...

We discuss contract theory from a combined Austrian/new institutional view. In the latter view, the world is seen as shot through with ignorance and transaction costs, but, as a tendency, entrepreneurial activity responds to the problems caused by these. All modeling must critically reflect...

Bounded rationality has often been invoked in the theory of economic organization, mainly to rationalize contractual incompleteness. I argue that one may distinguish between thin and thick notions of bounded rationality; that models that rely on thin notions are often effectively...

The knowledge-based approach and organizational economics are usually seen as offering opposing approaches to the explanation of organizational phenomena. Relying on a taxonomic framework from the philosophy of science, we argue that many differences between these approaches are more apparent...