The Theory of the Firm and Its Critics: A Stocktaking and Assessment

Nicolai J. Foss, Peter G. Klein

    Research output: Working paperResearch

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    Abstract

    Ever since its emergence in the 1970s the modern economic or Coasian theory of the firm has been discussed and challenged by sociologists, heterodox economists, management scholars, and other critics. This chapter reviews and assesses these critiques, focusing on behavioral issues (bounded rationality and motivation), process (including path dependence and the selection argument), entrepreneurship, and the challenge from knowledge-based theories of the firm
    Original languageEnglish
    Place of PublicationFrederiksberg
    PublisherDRUID - Danish Research Unit for Industrial Dynamics
    Number of pages24
    ISBN (Print)8778731674
    Publication statusPublished - 2005
    SeriesDRUID Working Paper
    Number05-03

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