Overview

This stimulating research review analyses how the theory of the firm evolved from several core concepts and building blocks that underpin this important area of economics. It discusses a variety of perspectives from leading scholars in the field, including the basic elements of: risk and uncertainty; information and knowledge; bounded rationality and decision making; motives and incentives; resources and capabilities; and transactions. The review goes on to examine how the various elements are integrated into the modern Theory of the Firm with the notion of organization coming increasingly to the fore. It focuses on norms; rules and routines; the entrepreneur; governance; hierarchies; co-operation, teams and networks; innovation and appropriability. This comprehensive review will be an invaluable reference tool for all researchers and students with an interest in the modern theory of the firm, highlighting how it needs to evolve further to address the important management and policy issues of our time.

Full Product Details

9781786430694

Table of Contents

Reviews

`From Coase to Williamson to Hart and Holmstroem, the theory of the firm has not only evolved but also been duly celebrated. But these ideas have important applications besides firms (e.g., Ostrom on polycentric governance, to name just one) and the formalization of these ideas during this evolution has, as always, been a double-edged sword-sharpening logic and testing, while narrowing causal mechanisms and behavioral assumptions. Teece and Kay do a wonderful job curating the wide range of ideas, approaches, and applications that may fall by the wayside if future researchers learn only from those most celebrated thus far. One might guess that the future evolution of the theory of the firm is more likely to have roots in these volumes than in the canon to date.' -- Robert Gibbons, Massachusetts Institute of Technology, US

'From Coase to Williamson to Hart and Holmstroem, the theory of the firm has not only evolved but also been duly celebrated. But these ideas have important applications besides firms (e.g., Ostrom on polycentric governance, to name just one) and the formalization of these ideas during this evolution has, as always, been a double-edged sword - sharpening logic and testing, while narrowing causal mechanisms and behavioral assumptions. Teece and Kay do a wonderful job curating the wide range of ideas, approaches, and applications that may fall by the wayside if future researchers learn only from those most celebrated thus far. One might guess that the future evolution of the theory of the firm is more likely to have roots in these volumes than in the canon to date.' -- Robert Gibbons, Massachusetts Institute of Technology, US

'From Coase to Williamson to Hart and Holmstroem, the theory of the firm has not only evolved but also been duly celebrated. But these ideas have important applications besides firms (e.g., Ostrom on polycentric governance, to name just one) and the formalization of these ideas during this evolution has, as always, been a double-edged sword-sharpening logic and testing, while narrowing causal mechanisms and behavioral assumptions. Teece and Kay do a wonderful job curating the wide range of ideas, approaches, and applications that may fall by the wayside if future researchers learn only from those most celebrated thus far. One might guess that the future evolution of the theory of the firm is more likely to have roots in these volumes than in the canon to date.' -- Robert Gibbons, Massachusetts Institute of Technology, US

`From Coase to Williamson to Hart and Holmstroem, the theory of the firm has not only evolved but also been duly celebrated. But these ideas have important applications besides firms (e.g., Ostrom on polycentric governance, to name just one) and the formalization of these ideas during this evolution has, as always, been a double-edged sword-sharpening logic and testing, while narrowing causal mechanisms and behavioral assumptions. Teece and Kay do a wonderful job curating the wide range of ideas, approaches, and applications that may fall by the wayside if future researchers learn only from those most celebrated thus far. One might guess that the future evolution of the theory of the firm is more likely to have roots in these volumes than in the canon to date.' -- Robert Gibbons, MIT Sloan School of Management, US

Author Information

Edited by David J. Teece, Professor of Global Business, Haas School of Business, University of California, Berkeley, and Chairman, Berkeley Research Group, US and Neil M. Kay, Professor, Edinburgh Business School, Heriot-Watt University and Emeritus Professor, Economics Department, Strathclyde University, UK

Tab Content 6

Customer Reviews

Recent Reviews

Countries Available