Download or read book A Market Process Theory of the Firm written by Mateusz Machaj and published by Routledge. This book was released on 2021-07-14 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Neoclassical economics has been criticized from various angles by orthodox schools. The same can be said about its particular branch: the theory of the firm. This book demonstrates how a successful theory of the firm can be presented without flawed notions of a neoclassical framework and used to comprehend actual business history. The author argues that we should start from the assumption that businesses are inevitably imponderable, as that is their nature, in the process of economic evolution. The book offers an in-depth exploration of neoclassical limitations by examining each of the small details associated with the famous MR = MC rule. It follows a step-by-step approach, which starts off with neoclassical assumptions and then moves into more empirically sound theory, based on modeling logic and rooted in real world examples. The author presents a novel discussion on the size of the firm, both in terms of classifying a firm’s expansion and about the factors that limit the size of the firm and argues how formal pricing theory can be built using more indeterminate assumptions about firms. Further, there is a discussion on how firms are rooted in amorphous industries, which helps to explain economic progress better by emphasizing the importance of economic experiments, mistakes and bankruptcies. This is a valuable reference for scholars and researchers who are interested in a range of topics from microeconomics, through pricing theory to industrial organization, history of economic thought and managerial economics.
Download or read book The Problem of Production written by Per L Bylund and published by Routledge. This book was released on 2015-12-22 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theory of the firm has been fertile ground for economists. Bylund proposes a new theory, rooted in Austrian economics, which examines the firm as a part of the market, and not as a free-standing entity. In this integrated view, a theory is offered which incorporates entrepreneurship, production, market process and economic development.
Download or read book An Entrepreneurial Theory of the Firm written by Frédéric Sautet and published by Routledge. This book was released on 2000-05-11 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: This original, provocative work makes a thorough and comprehensive enquiry into the relationship that exists between firms and markets, with separate, in-depth examinations of both the existence and inner organisation of the firm. Sautet develops an accomplished and convincing theory that encompasses a wealth of existing literature and leads it in
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.
Download or read book Markets in the Firm written by Tyler Cowen and published by Hobart Papers (Paperback). This book was released on 1997 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Businesses around the world face increasing turbulence in their economic and social environments. The pace of change in market economies seems to be ever accelerating. In this book, the authors consider some of the implications for management of different views of the firm. They point to the need, in these days of global markets and increased uncertainty, for firms to be flexible and responsive to market-place requirements.
Download or read book Firms Markets and Economic Change written by Richard N. Langlois and published by Routledge. This book was released on 1995-07-06 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditonal western forms of corporate organization have been called into question by the success of Japanese keiretsu. Firms, Markets and Economic Change draws on industrial economics, business strategy, and economic history to develop an evolutionary model to show when innovation is best undertaken. The authors argue that innovation is a complex p
Download or read book Theory of the Firm written by Kalman J. Cohen and published by Prentice Hall. This book was released on 1975 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business firms, decision making and economic models; Market structures and the theory of the firm; New approaches to the theory of the firm; Implications of microeconomics for the economic system.
Download or read book Handbook on the Economics and Theory of the Firm written by Michael Dietrich and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 607 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique Handbook explores both the economics of the firm and the theory of the firm, two areas which are traditionally treated separately in the literature. On the one hand, the former refers to the structure, organization and boundaries of the firm, while the latter is devoted to the analysis of behaviours and strategies in particular market contexts. the novel concept underpinning this authoritative volume is that these two areas closely interact, and that a framework must be articulated in order to illustrate how linkages can be created. This interpretative framework is comprehensively developed in the editors' introduction, and the expert contributors – more than fifty academics of renowned authority – further elaborate on the linkages in the seven comprehensive sections that follow, encompassing: background; equilibrium and new institutional theories; the multinational firm; dynamic approaches to the firm; modern issues; firms' strategies; and economic policy and the firm. Bridging economics and theory of the firm, and providing both technical and institutional perspectives on real corporations, this path-breaking Handbook will prove an invaluable resource for academics, researchers and students in the fields of economics, heterodox economics, business and management, and industrial organization.
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.
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.
Download or read book A Behavioral Theory of the Firm written by Richard Michael 1921- Cyert and published by Hassell Street Press. This book was released on 2021-09-10 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. To ensure a quality reading experience, this work has been proofread and republished using a format that seamlessly blends the original graphical elements with text in an easy-to-read typeface. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Download or read book A General Theory of Competition written by Shelby D. Hunt and published by SAGE Publications. This book was released on 1999-11-30 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hunt convincingly demonstrates that competition is not about dividing up limited resources but about creating more resources and thus competition is pro-society. This truly interdisciplinary book successfully develops a general theory of competition which is rich in explanatory breadth and depth. Consequently, executives and entrepreneuers, management consultants, public makers, and scholars and students in economics, law, political science, and business should read and study this book. —Robert F. Lusch, University of Oklahoma This book develops a new theory of competition. This theory – labeled "resource-advantage theory" – stems from no single research tradition, but draws on several different traditions in economics, management, marketing, and sociology. In this ground-breaking volume, Shelby Hunt articulates R-A theory, uses the theory to explain and predict economic phenomena, and shows how (and why) it explains and predicts such phenomena.
Download or read book The Theory of the Business Harvard Business Review Classics written by Peter F. Drucker and published by Harvard Business Press. This book was released on 2017-04-18 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Peter F. Drucker argues that what underlies the current malaise of so many large and successful organizations worldwide is that their theory of the business no longer works. The story is a familiar one: a company that was a superstar only yesterday finds itself stagnating and frustrated, in trouble and, often, in a seemingly unmanageable crisis. The root cause of nearly every one of these crises is not that things are being done poorly. It is not even that the wrong things are being done. Indeed, in most cases, the right things are being done—but fruitlessly. What accounts for this apparent paradox? The assumptions on which the organization has been built and is being run no longer fit reality. These are the assumptions that shape any organization's behavior, dictate its decisions about what to do and what not to do, and define what an organization considers meaningful results. These assumptions are what Drucker calls a company's theory of the business. The Harvard Business Review Classics series offers you the opportunity to make seminal Harvard Business Review articles a part of your permanent management library. Each highly readable volume contains a groundbreaking idea that continues to shape best practices and inspire countless managers around the world—and will have a direct impact on you today and for years to come.
Download or read book The Problem of Production written by Per L. Bylund and published by Routledge. This book was released on 2015-12-22 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theory of the firm has been fertile ground for economists. Bylund proposes a new theory, rooted in Austrian economics, which examines the firm as a part of the market, and not as a free-standing entity. In this integrated view, a theory is offered which incorporates entrepreneurship, production, market process and economic development.
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.
Download or read book The Marketing Firm written by Kevin J. Vella and published by Edward Elgar Publishing. This book was released on 2011-11-01 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an expert analysis of the theory of the marketing firm by drawing upon operant psychology, economic theory and marketing to argue that all firms exist in order to market. The authors explore the nature of bilateral interdependence and suggest a framework to analyse the collaborative and competitive mutually reinforcing relationships within which the firm acts. The Marketing Firm leverages the power of case study design to operationalise and test the central propositions of this nascent approach to the study of firm behaviour from an economic psychology perspective. The authors develop and detail an entirely appropriate methodology for operationalising and testing a number of propositions through the examination and analysis of comprehensive secondary data published by the UK Competition Commission. The findings clearly support the central propositions on firm action and provide valuable insights for expanding the theory of the marketing firm. The Marketing Firm will be invaluable for researchers interested in behaviour analysis and the theory of the firm and for post-graduate students in microeconomics, institutional economics, marketing and research methods.
Download or read book An Introduction to the Economic Theory of Market Behavior written by Donald W. Katzner and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 748 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This is an important, rigorous, and thoroughly engaging text on the economic theory of market behavior. It is unique in the attention devoted to the philosophical underpinnings and the historical background of the Walrasian Theory. Professor Katzner challenges his readers to understand the strengths and the limitations of what has gone before, and he provides guidance as to how he would like to see price theory develop in the future. This is among those rare texts that is designed to inspire further research.' - Hugo Sonnenschein, University of Chicago, US
