The rise of the knowledge economy has far-reaching implications for the nature of economic organization as well as firm strategy. Not surprisingly, thinking in management studies as well as in economies has been profoundly affected by these changes. Thus, management thinking in particular has...

This chapter reviews and discusses rational-choice approaches to organizational governance. These approaches are found primarily in organizational economics (virtually no rational-choice organizational sociology exists), particularly in transaction cost economics, principal-agent theory, and the...

Explores the concept of economic organization usingan Austrian approach based on the entrepreneur and the idea that capital isheterogeneous and time-dimensioned.Austrian economists havemovedfrom a capital theory that was based on aggregate concepts to onethat is more disaggregate. Israel...