A review essay on Avner Greif, Institutions and the Path to the Modern Economy: Lessons from Medieval Trade, Cambridge, Cambridge University Press, 2006, xx+503.

This paper is motivated by the observation that (1) socio economic analysis uses significantly less formalisms than mainstream economics, and (2) that there exist numerous situations in which socio economics could benefit from a more formal analysis. This is particularly the case if institutions...

This paper proposes a central idea in diffusion research is that influential –a minority of individuals who influence an exceptional number of their peers- are important to formation of public opinion. Here we examine this idea, which we call the “influential hypothesis”, using the...

This paper examines game theoretic models of coordination conventions. Firstly, the paper shows that static models of coordination cannot explain the emergence of coordination conventions. The best interpretation of these models is that they study the conditions under which coordination is...

In this paper, we aim at the introduction of an additional macroeconomic sector defined as a broad accounting category in the stock-flow consistent framework developed by Lavoie and Godley. Starting from the idea that many financial services supplied by commercial banks today do not fit into the...

A kísérletezés története meglehetősen eltérő a közgazdaságtanban, illetve a menedzsmenttudományokban. Míg a közgazdászok többsége egészen a legutóbbi időkig bizalmatlansággal - ha nem gyanakvással - tekintett a kísérletekre, a menedzsmenttudományok művelői változatos...

The paper deals with development of a general theory of the firm. It discusses the demand for such a theory, reviews existing approaches to its generalization, and offers a new variant of general theory of the firm based on the contract theory. The theory is based on minimization of...

The paper studies through the lens of the economic theory of the firm the development of two managerial disciplines: supply chain management and relationship marketing. The author demonstrates which ideas have been borrowed by these disciplines from the economic theory of the firm, and in what...

Human knowledge is a human creation: we seek to make sense by creating patterns, which are tested in various ways and with differing degrees and kinds of rigour. For each individual cognition is a scarce resource, but different people can apply it in diverse ways and to diverse subjects: each...

The paper considers the approaches to the theory of the firm developed by strategic management scholars: positioning theory, resource-based view, dynamic capabilities approach, knowledge-based view, strategic theory of the firm, as well as open innovations theory. The author shows how the ideas...