Entrepreneurship and the Firm: Austrian Perspectives on Economic Organization by

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While characteristically `Austrian' themes such as entrepreneurship, economic calculation, tacit knowledge and the temporal structure of capital are clearly relevant to the business firm, Austrian economists have said relatively little about management, organization, and strategy.

FORMATHardcover LANGUAGEEnglish CONDITIONBrand New Publisher Description

While characteristically "Austrian" themes such as entrepreneurship, economic calculation, tacit knowledge and the temporal structure of capital are clearly relevant to the business firm, Austrian economists have said relatively little about management, organization and strategy. This work features 12 chapters that all seek to advance the understanding of these issues by drawing on Austrian ideas. Building on existing research in transaction cost economics, agency theory, evolutionary economics and the resource-based theory of the firm, the authors cover a wide range of theoretical and applied topics. These include knowledge management, authority and hierarchy, modularity, corporate restructuring, telecommunications regulation and competitive advantage. They clearly show how Austrian ideas can usefully engage, challenge and extend more mainstream perspectives on economic organization.

Author Biography

Edited by Nicolai J. Foss, Professor of Strategy and Organization, Copenhagen Business School, Denmark and Norwegian School of Economics and Business Administration, Norway and Peter G. Klein, Hankamer School of Business, Baylor University, US

Table of Contents

Contents:Introduction – Entrepreneurship and the Firm: Austrian Perspectives on Economic OrganizationNicolai J. Foss and Peter G. Klein1. Explaining FirmsBrian J. Loasby2. Modularity in Technology and OrganizationRichard N. Langlois3. Economic Organization in the Knowledge Economy: An Austrian PerspectiveNicolai J. Foss4. Knowledge: A Challenge for the Austrian Theory of the FirmPierre Garrouste5. Schumpeter's and Kirzner's Entrepreneur Reconsidered: Corporate Entrepreneurship, Subjectivism and the Need for a Theory of the FirmWolfgang Gick6. Economic Organization and the Trade-offs between Productive and Destructive EntrepreneurshipKirsten Foss and Nicolai J. Foss7. Entrepreneurship, Contracts and the Corporate Firm: Austrian Insights on the Contractual Nature of Business OrganizationStavros Ioannides8. Costs of Contracting, Psychology of Entrepreneurship and Capabilities of FirmsMartti Vihanto9. Do Entrepreneurs Make Predictable Mistakes? Evidence from Corporate DivestituresPeter G. Klein and Sandra K. Klein10. Telecommunications Mergers and Theories of the Firm 11. Rents and Resources: A Market Process PerspectiveJerry Ellig11. Rents and Resources: A Market Process PerspectivePeter Lewin and Steven E. Phelan12. Resource-Advantage Theory and Austrian EconomicsShelby HuntIndex

Review

'This volume is a positive contribution to Austrian economics. . . The contributors cast new light on problems that were not considered from the outset as genuine to Austrian economics: this includes theoretical problems, such as property rights, learning, and incentives, as well as empirical, and perhaps more exotic problems from an Austrian point of view, such as corporate governance and industrial organization.' -- Jacques-Laurent Ravix, Journal of Evolutionary Economics'. . . a very interesting book which goes a considerable way towards linking economic analysis of the firm with empirical study of business decisions and with ideas which have been discussed in studies of business policy and management. . . This is a book which calls for, and repays, careful reading.' -- A.L. Minkes, International Journal of Management and Decision Making'This is a most informative book for both the non-specialist and specialist alike. The non-specialist can get a feel for the literature on the entrepreneur whilst the specialist is given some significant ideas that will move forward the debate as to what contributions Austrians can make in the area of the theory of the firm, particularly with a capabilities approach.' -- David Gray, International Journal of Entrepreneurship and Innovation'For researchers interested in Austrian economics and those interested in the theory of the firm the book gives a valuable summary of what can be derived from the Austrian approach to the theory of the firm.' -- Helge Peukert, European Business Organization Law Review

Review Quote

'This volume is a positive contribution to Austrian economics. . . The contributors cast new light on problems that were not considered from the outset as genuine to Austrian economics: this includes theoretical problems, such as property rights, learning, and incentives, as well as empirical, and perhaps more exotic problems from an Austrian point of view, such as corporate governance and industrial organization.'

Details ISBN1840646608 Publisher Edward Elgar Publishing Ltd Year 2002 ISBN-10 1840646608 ISBN-13 9781840646603 Format Hardcover Imprint Edward Elgar Publishing Ltd Subtitle Austrian Perspectives on Economic Organization Place of Publication Cheltenham Country of Publication United Kingdom DEWEY 338.04 Illustrations index Edited by Peter G. Klein Author Peter G. Klein Pages 296 Publication Date 2002-09-26 Short Title Entrepreneurship and the Firm Language English Media Book DOI 10.1604/9781840646603 AU Release Date 2002-09-26 NZ Release Date 2002-09-26 UK Release Date 2002-09-26 Audience Professional & Vocational We've got this

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