A central construct in competitive strategy research is market power, the ability to raise price above marginal cost. Positioning research focuses on attempts to build, protect, and exercise market power. However, this approach contains hidden assumptions about transaction costs. Parties made...

Transaction cost, property rights, and resource-based approaches to the firm assume that assets, both tangible and intangible, are heterogeneous. Arranging these assets to minimize contractual hazards, to provide efficient investment incentives, or to exploit competitive advantage is conceived...

This paper develops a property rights perspective on the nature of the firm. The basic idea is that learning by doing in production and coordination stem from experience in production and that user rights over productive assets are necessary in order to accumulate the experience needed to...

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...

This paper explores innovation, experimentation, and creativity in the public domain and in the public interest. Researchers in various disciplines have studied public entrepreneurship, but there is little work in management and economics on the nature, incentives, constraints and boundaries of...

The “knowledge governance approach” is characterized as a distinctive, emerging approach that cuts across the fields of knowledge management, organisation studies, strategy, and human resource management. Knowledge governance is taken up with how the deployment of governance mechanisms...

The recent decade has witnessed a strong expansion of work on the firm, both from a capabilities perspective and from a contractual perspective. These two bodies of theories are often thought to be fundamentally different, because their domains of applications are different...

Important aspects of leadership behavior can be rendered intelligible through a focus on coordination games. The concept of common knowledge is shown to be particularly important to understanding leadership. Thus, leaders may establish common knowledge conditions and assist the coordination of...

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...