Adaptation, Specialization, and the Theory of the Firm

Erscheinungsjahr 2016
ISBN: 978-1-107-59578-1
Verlag: Cambridge University Press

Buch, Englisch, 312 Seiten, Format (B × H): 149 mm x 226 mm, Gewicht: 468 g

This invaluable book provides the foundations for a new theory of the firm, drawing on Birger Wernerfelt's landmark work on economic theory and the resource-based view of the firm. It addresses a vigorous and long-standing academic debate over what exactly a 'firm' is, both in the field of management and economics. Wernerfelt revisits his classic articles, including an extensively revised 'A Resource-Based View of the Firm' (1984), which have been updated and synthesized to provide precise and accessible concepts and predictions. By offering future directions for research and practice, this book will be of interest to students and scholars of management and economics alike.

Autoren/Hrsg.

Wernerfelt, Birger

Fachgebiete

• Wirtschaftswissenschaften Betriebswirtschaft Management Unternehmensorganisation & Entwicklungsstrategien
• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Mikroökonomie
• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Industrielle Organisation
• Wirtschaftswissenschaften Betriebswirtschaft Management Unternehmensführung

Inhaltsverzeichnis

Preface; Part I. Agenda: 1. Introduction; 2. Preview: small forces, high frequencies, and large firms; Part II. The Main Argument: 3. Adaptation costs in one dimension: firms, contracts, and price lists; 4. Adaptation costs in three dimensions: firms, markets, and contracts; 5. All adaptations are not the same: the scope of firms and the size of markets; 6. Resources and the scope of the firm; Part III. Implications: 7. The allocation of asset ownership; 8. Communication within and between firms; 9. The power of incentives within and between firms; 10. Decision-making in large organizations; Part IV. Empirical Tests: 11. Bargaining costs: existence and sub-additivity; 12. Adaptation frequency and the boundary of the firm; 13. Asset ownership and externalities; Part V. Foundations: 14. Endogenously incomplete contracts; 15. Multiple equilibria and firm heterogeneity; 16. On the endogenous amplification of small differences; Part VI. Postscript: 17. Summary and final reflections; Index.

Über Autor(innen)

Wernerfelt, Birger
Birger Wernerfelt is the J. C. Penney Professor of Management at the Sloan School of Management, Massachusetts Institute of Technology.