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Author: Mateusz Machaj Publisher: Routledge ISBN: 1000412849 Category : Business & Economics Languages : en Pages : 164
Book Description
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.
Author: Mateusz Machaj Publisher: Routledge ISBN: 1000412849 Category : Business & Economics Languages : en Pages : 164
Book Description
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.
Author: Per L Bylund Publisher: Routledge ISBN: 1317217802 Category : Business & Economics Languages : en Pages : 225
Book Description
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.
Author: Tyler Cowen Publisher: Hobart Papers (Paperback) ISBN: Category : Business & Economics Languages : en Pages : 108
Book Description
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.
Author: Frédéric Sautet Publisher: Routledge ISBN: 1134582927 Category : Business & Economics Languages : en Pages : 325
Book Description
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
Author: Kalman J. Cohen Publisher: Prentice Hall ISBN: Category : Business & Economics Languages : en Pages : 552
Book Description
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.
Author: Oliver E. Williamson Publisher: Oxford University Press, USA ISBN: 9780195083569 Category : Business & Economics Languages : en Pages : 260
Book Description
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.
Author: Peter F. Drucker Publisher: Harvard Business Press ISBN: 1633692531 Category : Business & Economics Languages : en Pages : 80
Book Description
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.
Author: Richard N. Langlois Publisher: Routledge ISBN: 1134804962 Category : Business & Economics Languages : en Pages : 364
Book Description
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
Author: Michael Dietrich Publisher: Edward Elgar Publishing ISBN: 1781002401 Category : Business & Economics Languages : en Pages : 607
Book Description
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.
Author: Mateusz Machaj
Author: Mateusz Machaj
Author: Per L Bylund
Author: Tyler Cowen
Author: Frédéric Sautet
Author: Kalman J. Cohen
Author: Oliver E. Williamson
Author: Peter F. Drucker
Author: Richard N. Langlois
Author: Nicolai Juul Foss
Author: Michael Dietrich