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

Nicolai J. Foss, Peter G. Klein

Research output: Working paperResearch

20 Downloads (Pure)

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

Cite this