Many economists, notably Austrian economists, have argued that the market process is essentially an experimental process. We briefly try to clarify this conceptualization, and then argue that we may understand the firm in much the same light. A basic view of the firm as an experimental entity is derived, drawing on property rights insights.
|Place of Publication||Frederiksberg|
|Publisher||The Link Program|
|Number of pages||24|
|Publication status||Published - 2001|
|Series||LINK Working Paper|