Organizations and Markets

Nicolai J. Foss, Peter G. Klein, Stefan Linder

    Research output: Working paperResearch

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    Abstract

    Austrian economics focuses on markets, but has much to say about organizations. In particular, Austrian insights on the structure of production, the heterogeneity and subjectivity of resources, the nature of uncertainty, the role of monetary calculation, and the function of the entrepreneur provide solid foundations for a distinctly Austrian theory of organizations. We review these insights, discuss recent literature on Austrian economics and the theory of the firm, and suggest new directions for developing and extending an Austrian approach to organizations.
    Original languageEnglish
    Place of PublicationFrederiksberg
    PublisherInstitut for Strategic Management and Globalization
    Number of pages38
    ISBN (Print)9788791815904
    Publication statusPublished - Apr 2013
    SeriesSMG Working Paper
    Number8/2013

    Keywords

    • Theory of the firm
    • Firm boundaries
    • Entrepreneurship
    • Subjectivism

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