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

Nicolai Foss () and Peter Klein

No 05-03, DRUID Working Papers from DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies

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.

JEL-codes: B4 D23 L14 L22 (search for similar items in EconPapers)
Date: 2005
New Economics Papers: this item is included in nep-bec, nep-cbe, nep-com, nep-ent, nep-his, nep-hpe, nep-mic and nep-pke
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:aal:abbswp:05-03

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