This text provides a range of fundamental readings embracing the economics of firm behaviour from a non-neoclassical perspective. The collection covers several basic topics including: the importance of transaction costs and agency theory for the analysis of firm behaviour; capabilities and resource-based theories of the firm; the economics of firm strategy; behavioural theories; Austrian theories; evolutionary theories; and the historical development of firms. The readings include selections from traditional masters as well as writings by more recent authors. This collection should be of value to both scholars who want a summary of developments in the field and to students of industrial economics and corporate strategy.
Volume 1: Part 1 Development in the theory of the firm - a critical review: Capabilities and governance - the rebirth of production in the theory of economic organization. Part II Fountainheads of the modern theories of the firm: industrial organization;enterprise and profit; the nature of the firm; cognitive limits on rationality; foreword to the third edition in "The Theory of the Growth of the Firm"; equilibriu, expectations and information. Part III Transaction costs, property rights and economic organisation: information, expectations and the theory of the firm; production, information costs and economic organization; vertical integration, appropriable rents and the competitive contracting process; the contractual nature of the firm; the entrepreneur's reward for self-policing; the theory of the firm revisited. Part IV Agency theories, incomplete contracts and corporate governance: theory of the firm - managerial behavior, agency costs and ownership structure; transaction-cost economics - the governance of contractual relations; agency problems and the theory of the firm; moral hazard in teams; separation of ownership and control; the economics of governance - framework and implications; the costs and benefits of ownership - a theory of vertical and lateral integration; an economist's perspective on the theory of the firm; multitask principal-agent analyses - incentive contracts, asset ownership and job design; the firm as a collection of assets; hierarchy - the economics of manaing; specific and general knowledge and organizational structure. Volume 2: Part 1 Capabilities and resource-based views: the organisation of industry; organizational capabilities and behavior; a resource-based view of the firm; absorptive capacity - a new perspective on learning and innovation; firm resources and sustained competitive advantage; a historical comparison of resource-based theory and five schools of thought within industrial organization economics - do we have a new theory of firm?; the resource-based view within the conversation of stragetic management; coordination and organizational learning in the firm; the cornerstones of competitive advantage - a resource-based view; capabilities and the theory of the firm; dynamic capabilities and strategic management. (Part Contents).
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