The Organization of Large, Complex Firms: An Austrian view

Frédéric E. Sautet, Nicolai Juul Foss

    Publikation: Working paperForskning

    23 Downloads (Pure)


    We argue that the discovery process perspective, developed in the context of Austrian economics, is helpful for understanding the organization of large complex firms, even though the perspective has traditionally been applied to the analysis of market activities. The stress put in the perspective on genuine uncertainty, dispersed, tacit and subjectively held knowledge, rules, and entrepreneurial alertness to hitherto unnoticed opportunities provides new insights that are not captured by contemporary agency, transaction cost, rent-seeking, etc. models. We illustrate our reasoning by focusing on the case of the M-form corporation.
    UdgiverInstitut for Industriøkonomi og Virksomhedsstrategi, Handelshøjskolen i København
    Antal sider33
    ISBN (Trykt)8778690420
    StatusUdgivet - 1999
    NavnWorking Paper / Department of Industrial Economics and Strategy. Copenhagen Business School


    • Internetressourcer
    • Industrial organization
    • Multinationale selskaber
    • Austrian economics
    • Theory of the firm