Market Dynamics and Competition: The Crucial Role of Information

Arnold Picot, Ralf Reichwald, Rolf T. Wigand, Kathrin M. Möslein, Rahild Neuburger and Anne-Katrin Neyer
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Ralf Reichwald: Technical University of Munich
Rolf T. Wigand: Arizona State University
Kathrin M. Möslein: Friedrich-Alexander-Universität Erlangen-Nürnberg (FAU) & Handelshochschule Leipzig (HHL)
Rahild Neuburger: Ludwig-Maximilians-Universität
Anne-Katrin Neyer: Martin-Luther-University Halle-Wittenberg

Chapter Chapter 2 in The Boundaryless Enterprise, 2023, pp 11-36 from Springer

Abstract: Abstract The satisfaction of human needs is the fundamental intention of economic activity. In general, individual needs exceed the limited goods that are available and suitable for fulfilling respective needs. A possible starting point for dealing with this scarcity is the division of labor and specialization. This division leads to the organization problem, which can be differentiated into the coordination problem and the motivation problem. The theories of New Institutional Economics (i.e., property rights theory, transaction cost theory, and principal-agent theory) can be used as an explanatory and design approach. In the following chapter, this will be explained in more detail alongside information and network economics as theoretical building blocks of the concept of the borderless enterprise before the implications for markets and companies are highlighted.

Date: 2023
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DOI: 10.1007/978-3-658-40054-5_2

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