The Economic Nature of the Firm

The Economic Nature of the Firm

Author: Randall S. Kroszner

Publisher: Cambridge University Press

Published: 2009-09-21

Total Pages: 664

ISBN-13: 1316025233

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This book brings together classic writings on the economic nature and organization of firms, including works by Ronald Coase, Oliver Williamson, and Michael Jensen and William Meckling, as well as more recent contributions by Paul Milgrom, Bengt Holmstrom, John Roberts, Oliver Hart, Luigi Zingales, and others. Part I explores the general theme of the firm's nature and place in the market economy; Part II addresses the question of which transactions are integrated under a firm's roof and what limits the growth of firms; Part III examines employer-employee relations and the motivation of labor; and Part IV studies the firm's organization from the standpoint of financing and the relationship between owners and managers. The volume also includes a consolidated bibliography of sources cited by these authors and an introductory essay by the editors that surveys the new institutional economics of the firm and issues raised in the anthology.


Book Synopsis The Economic Nature of the Firm by : Randall S. Kroszner

Download or read book The Economic Nature of the Firm written by Randall S. Kroszner and published by Cambridge University Press. This book was released on 2009-09-21 with total page 664 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together classic writings on the economic nature and organization of firms, including works by Ronald Coase, Oliver Williamson, and Michael Jensen and William Meckling, as well as more recent contributions by Paul Milgrom, Bengt Holmstrom, John Roberts, Oliver Hart, Luigi Zingales, and others. Part I explores the general theme of the firm's nature and place in the market economy; Part II addresses the question of which transactions are integrated under a firm's roof and what limits the growth of firms; Part III examines employer-employee relations and the motivation of labor; and Part IV studies the firm's organization from the standpoint of financing and the relationship between owners and managers. The volume also includes a consolidated bibliography of sources cited by these authors and an introductory essay by the editors that surveys the new institutional economics of the firm and issues raised in the anthology.

The Nature of the Firm

The Nature of the Firm

Author: Oliver E. Williamson

Publisher: Oxford University Press, USA

Published: 1993

Total Pages: 260

ISBN-13: 9780195083569

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This volume features a series of essays which arose from a conference on economics, addressing the question: what is the nature of the firm in economic analysis? This paperback edition includes the Nobel Lecture of R.N. Case.


Book Synopsis The Nature of the Firm by : Oliver E. Williamson

Download or read book The Nature of the Firm written by Oliver E. Williamson and published by Oxford University Press, USA. This book was released on 1993 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume features a series of essays which arose from a conference on economics, addressing the question: what is the nature of the firm in economic analysis? This paperback edition includes the Nobel Lecture of R.N. Case.

The Economic Nature of the Firm

The Economic Nature of the Firm

Author: Louis Putterman

Publisher: Cambridge University Press

Published: 1996-01-26

Total Pages: 404

ISBN-13: 9780521556286

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This book brings together selections from the most influential writings on the internal economic organisation of business firms.


Book Synopsis The Economic Nature of the Firm by : Louis Putterman

Download or read book The Economic Nature of the Firm written by Louis Putterman and published by Cambridge University Press. This book was released on 1996-01-26 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together selections from the most influential writings on the internal economic organisation of business firms.

The Economic Nature of the Firm

The Economic Nature of the Firm

Author: Louis Putterman

Publisher:

Published:

Total Pages: 88

ISBN-13:

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Book Synopsis The Economic Nature of the Firm by : Louis Putterman

Download or read book The Economic Nature of the Firm written by Louis Putterman and published by . This book was released on with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Firm, the Market, and the Law

The Firm, the Market, and the Law

Author: R. H. Coase

Publisher: University of Chicago Press

Published: 2012-06-15

Total Pages: 226

ISBN-13: 022605120X

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Few other economists have been read and cited as often as R.H. Coase has been, even though, as he admits, "most economists have a different way of looking at economic problems and do not share my conception of the nature of our subject." Coase's particular interest has been that part of economic theory that deals with firms, industries, and markets—what is known as price theory or microeconomics. He has always urged his fellow economists to examine the foundations on which their theory exists, and this volume collects some of his classic articles probing those very foundations. "The Nature of the Firm" (1937) introduced the then-revolutionary concept of transaction costs into economic theory. "The Problem of Social Cost" (1960) further developed this concept, emphasizing the effect of the law on the working of the economic system. The remaining papers and new introductory essay clarify and extend Coarse's arguments and address his critics. "These essays bear rereading. Coase's careful attention to actual institutions not only offers deep insight into economics but also provides the best argument for Coase's methodological position. The clarity of the exposition and the elegance of the style also make them a pleasure to read and a model worthy of emulation."—Lewis A. Kornhauser, Journal of Economic Literature Ronald H. Coase was awarded the Nobel Prize in Economic Science in 1991.


Book Synopsis The Firm, the Market, and the Law by : R. H. Coase

Download or read book The Firm, the Market, and the Law written by R. H. Coase and published by University of Chicago Press. This book was released on 2012-06-15 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Few other economists have been read and cited as often as R.H. Coase has been, even though, as he admits, "most economists have a different way of looking at economic problems and do not share my conception of the nature of our subject." Coase's particular interest has been that part of economic theory that deals with firms, industries, and markets—what is known as price theory or microeconomics. He has always urged his fellow economists to examine the foundations on which their theory exists, and this volume collects some of his classic articles probing those very foundations. "The Nature of the Firm" (1937) introduced the then-revolutionary concept of transaction costs into economic theory. "The Problem of Social Cost" (1960) further developed this concept, emphasizing the effect of the law on the working of the economic system. The remaining papers and new introductory essay clarify and extend Coarse's arguments and address his critics. "These essays bear rereading. Coase's careful attention to actual institutions not only offers deep insight into economics but also provides the best argument for Coase's methodological position. The clarity of the exposition and the elegance of the style also make them a pleasure to read and a model worthy of emulation."—Lewis A. Kornhauser, Journal of Economic Literature Ronald H. Coase was awarded the Nobel Prize in Economic Science in 1991.

The Theory of the Firm

The Theory of the Firm

Author: Daniel F. Spulber

Publisher: Cambridge University Press

Published: 2009-04-13

Total Pages: 542

ISBN-13: 0521517389

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The Theory of the Firm presents an innovative general analysis of the economics of the firm.


Book Synopsis The Theory of the Firm by : Daniel F. Spulber

Download or read book The Theory of the Firm written by Daniel F. Spulber and published by Cambridge University Press. This book was released on 2009-04-13 with total page 542 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Theory of the Firm presents an innovative general analysis of the economics of the firm.

The Theory of the Firm

The Theory of the Firm

Author: Paul Walker

Publisher: Taylor & Francis

Published: 2016-09-13

Total Pages: 212

ISBN-13: 1317277031

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Firms are a ubiquitous feature of the economic landscape, with much of the activity undertaken within an economy taking place within their boundaries. Given the size of the contribution made by firms to economic activity, employment and growth, having a theoretical understanding of the nature and structure of firms is crucial for understanding how an economy functions. The Theory of the Firm firstly offers a brief overview of the past, consisting of a concise discussion of the classical view of production, followed by an outline of the development of the neoclassical - or ‘textbook’ - approach to firm level production. Secondly, the ‘present’ of the theory of the firm is discussed in three sections. The first section considers the post-1970 theory of the firm literature per se, while the second section scrutinises the relationship between the three most prominent of the modern sets of theories: the reference point, property rights and transaction cost approaches. The third section looks at the theory of privatisation. The unique aspects of this book includes its discussions of the post-1970 contributions to the theory of the firm; the integration of the theory of the entrepreneur with the theory of the firm; and the theory of privatisation. This volume offers an intuitive introduction to the theories of the firm as well as simple formal models of the most important contributions to the literature. It also outlines the historical evolution of the traditional and modern theories of the firm. This book is of great interest to those who study history of economic thought, industrial economics and organizational studies.


Book Synopsis The Theory of the Firm by : Paul Walker

Download or read book The Theory of the Firm written by Paul Walker and published by Taylor & Francis. This book was released on 2016-09-13 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Firms are a ubiquitous feature of the economic landscape, with much of the activity undertaken within an economy taking place within their boundaries. Given the size of the contribution made by firms to economic activity, employment and growth, having a theoretical understanding of the nature and structure of firms is crucial for understanding how an economy functions. The Theory of the Firm firstly offers a brief overview of the past, consisting of a concise discussion of the classical view of production, followed by an outline of the development of the neoclassical - or ‘textbook’ - approach to firm level production. Secondly, the ‘present’ of the theory of the firm is discussed in three sections. The first section considers the post-1970 theory of the firm literature per se, while the second section scrutinises the relationship between the three most prominent of the modern sets of theories: the reference point, property rights and transaction cost approaches. The third section looks at the theory of privatisation. The unique aspects of this book includes its discussions of the post-1970 contributions to the theory of the firm; the integration of the theory of the entrepreneur with the theory of the firm; and the theory of privatisation. This volume offers an intuitive introduction to the theories of the firm as well as simple formal models of the most important contributions to the literature. It also outlines the historical evolution of the traditional and modern theories of the firm. This book is of great interest to those who study history of economic thought, industrial economics and organizational studies.

Ronald H. Coase

Ronald H. Coase

Author: Steven G. Medema

Publisher: Springer

Published: 2016-07-27

Total Pages: 210

ISBN-13: 1349124869

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'Ronald Coase has been one of the most influential economists of his generation. Although his work deals with foundation concepts of the discipline, his ideas have been subject to a variety of usage, often in conjunction with ideological baggage. In this remarkable study of the man and his work, Steven Medema presents a careful, judicious, and nonideological examination of Coase's ideas, challenging their misleading common interpretation and revealing their true revolutionary potential. 'Professor W. J. Samuels, Michigan State University 'Steven Medema's achievement is remarkable: with great fairness he introduces us to Coase's way of thinking, and with great clarity helps us to see the continuity in Coase's work. Medema has written an excellent book about one of the great economists of this century.' Professor T. Eggertsson, University of Iceland and Indiana University. This book presents a systematic analysis of the contributions to economics made by Ronald Coase, the recipient of the 1991 Nobel Prize in economics. Throughout his career, Coase has brought his own particular approach to the economic analysis of the firm, pricing and costs, externalities, the economic role of government and economic method. This book analyses Coase's seminal contributions to economics, as well as the challenge that his work poses to conventional economic analysis.


Book Synopsis Ronald H. Coase by : Steven G. Medema

Download or read book Ronald H. Coase written by Steven G. Medema and published by Springer. This book was released on 2016-07-27 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Ronald Coase has been one of the most influential economists of his generation. Although his work deals with foundation concepts of the discipline, his ideas have been subject to a variety of usage, often in conjunction with ideological baggage. In this remarkable study of the man and his work, Steven Medema presents a careful, judicious, and nonideological examination of Coase's ideas, challenging their misleading common interpretation and revealing their true revolutionary potential. 'Professor W. J. Samuels, Michigan State University 'Steven Medema's achievement is remarkable: with great fairness he introduces us to Coase's way of thinking, and with great clarity helps us to see the continuity in Coase's work. Medema has written an excellent book about one of the great economists of this century.' Professor T. Eggertsson, University of Iceland and Indiana University. This book presents a systematic analysis of the contributions to economics made by Ronald Coase, the recipient of the 1991 Nobel Prize in economics. Throughout his career, Coase has brought his own particular approach to the economic analysis of the firm, pricing and costs, externalities, the economic role of government and economic method. This book analyses Coase's seminal contributions to economics, as well as the challenge that his work poses to conventional economic analysis.

Economics of the Firm

Economics of the Firm

Author: Michael Dietrich

Publisher: Routledge

Published: 2006-11-22

Total Pages: 292

ISBN-13: 1134158300

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This book brings together some of the world's leading experts to present an interdisciplinary, critical perspective on current issues surrounding the economics of the firms. It eschews standard approaches to the economics of the firm (including analysis of transaction costs) in favour of a more interdisciplinary outlook, with evolutionary economics taken into account. Central to this is the concept of trust and the belief that any approach to the firm must recognize cultural and political factors. The chapters emphasize the themes of change and evolution and explore issues arising from the history and organization of firms. An important book, with contributions from Bart Nooteboom, Stavros Ioannides and Werner Holzl, this is an invaluable resource for postgraduate students of economics.


Book Synopsis Economics of the Firm by : Michael Dietrich

Download or read book Economics of the Firm written by Michael Dietrich and published by Routledge. This book was released on 2006-11-22 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together some of the world's leading experts to present an interdisciplinary, critical perspective on current issues surrounding the economics of the firms. It eschews standard approaches to the economics of the firm (including analysis of transaction costs) in favour of a more interdisciplinary outlook, with evolutionary economics taken into account. Central to this is the concept of trust and the belief that any approach to the firm must recognize cultural and political factors. The chapters emphasize the themes of change and evolution and explore issues arising from the history and organization of firms. An important book, with contributions from Bart Nooteboom, Stavros Ioannides and Werner Holzl, this is an invaluable resource for postgraduate students of economics.

An Evolutionary Theory of Economic Change

An Evolutionary Theory of Economic Change

Author: Richard R. Nelson

Publisher: Harvard University Press

Published: 1985-10-15

Total Pages: 456

ISBN-13: 9780674041431

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This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.


Book Synopsis An Evolutionary Theory of Economic Change by : Richard R. Nelson

Download or read book An Evolutionary Theory of Economic Change written by Richard R. Nelson and published by Harvard University Press. This book was released on 1985-10-15 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.