The Function of Firms: Alternative Views

Nina Shapiro

Chapter 1 in Microeconomics, Macroeconomics and Economic Policy, 2011, pp 3-19 from Palgrave Macmillan

Abstract: Abstract Why are firms formed? What function do they perform? These questions continue to elude economics, which, in spite of the discarding of the ‘black box’ conception of the firm, and growth of a voluminous literature on the subject, is still ‘in search of a theory of the firm’ (Garrouste and Saussier, 2005).

Keywords: Resource Allocation; Transaction Cost; Capital Requirement; Classical Economic; Allocative Efficiency (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-31375-0_1

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DOI: 10.1057/9780230313750_1

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