Tagged: Theory of the firm

50 years of “A Behavioral Theory of the Firm” - The Dismal Science

Paul Walker Apr 29, 2013

In his latest weekly newsletter from economicprincipals.com David Warsh writes about attending a program celebrating the fiftieth anniversary of the publication of A Behavioral Theory of the Firm by March and Richard Cyert. Warsh says,The corporate landscape today is, of course, all but unrecognizable compared to what it was when March and Cyert wrote in 1963. The outlines of … Read More

Do entrepreneurs matter? - The Dismal Science

Paul Walker Apr 23, 2013

According to Sascha O Becker and Hans K. Hvide over at VoxEU.org the short answer is yes. Becker and Hvide write Governments try to boost competitiveness through a vast array of policies. Newly founded firms have the potential to give new impetus to an economy. The question arises: what matters more, the horse (i.e. the products) … Read More

Armen Alchian dies at age 98 - The Dismal Science

Paul Walker Feb 20, 2013

Another of the great old guard of economics has gone. As a theory of the firm man I think of Armen Alchian as one of the developers of the nexus of contracts view of the firm. This approach to the firm was developed in papers by Alchian and Demsetz (1972), Jensen and Meckling (1976), Barzel (1997), Fama (1980) and Cheung … Read More