Paul Walker is an economist in Christchurch, New Zealand. He received his PhD in Economics from the University of Canterbury, Christchurch, New Zealand. His research is mainly on the history of economics and the theory of the firm.

• Preface and acknowledgments 1 Introduction 2 The ‘past’ 2.1 Background 2.2 Neoclassical 2.2.1 Summary 2.3 Behavioural and managerial models 2.3.1 Behavioural models 2.3.2 Managerial models 2.3.3 Summary 2.4 Demsetz and the neoclassical model 2.5 Conclusion 3 The founding works 3.1 Knight - ‘Risk, Uncertainty and Profit’ 3.2 Coase - ‘The Nature of the Firm’ 3.3 Conclusion 4 The ‘present’ 4.1 The post-1970 theories of the firm 4.1.1 Mainstream theories 4.1.1.1 Principal-agent type models 4.1.1.2 Incomplete contracts models 4.1.2 Recent developments within the mainstream 4.1.2.1 The reference point approach 4.1.2.2 Spulber 2009 4.1.2.3 Foss and Klein 2012 4.1.3 Summary 4.2 Reference points, property rights and transaction costs 4.3 The theory of privatisation 4.3.1 Background 4.3.2 Definitions of privatisation 4.3.3 The post-1980 theories of privatisation 4.3.4 Summary 4.4 Conclusion 5 Partial versus general equilibrium 6 Conclusion

Paul Walker is an economist in Christchurch, New Zealand. He received his PhD in Economics from the University of Canterbury, Christchurch, New Zealand. His research is mainly on the history of economics and the theory of the firm.

• Preface and acknowledgments 1 Introduction 2 The ‘past’ 2.1 Background 2.2 Neoclassical 2.2.1 Summary 2.3 Behavioural and managerial models 2.3.1 Behavioural models 2.3.2 Managerial models 2.3.3 Summary 2.4 Demsetz and the neoclassical model 2.5 Conclusion 3 The founding works 3.1 Knight - ‘Risk, Uncertainty and Profit’ 3.2 Coase - ‘The Nature of the Firm’ 3.3 Conclusion 4 The ‘present’ 4.1 The post-1970 theories of the firm 4.1.1 Mainstream theories 4.1.1.1 Principal-agent type models 4.1.1.2 Incomplete contracts models 4.1.2 Recent developments within the mainstream 4.1.2.1 The reference point approach 4.1.2.2 Spulber 2009 4.1.2.3 Foss and Klein 2012 4.1.3 Summary 4.2 Reference points, property rights and transaction costs 4.3 The theory of privatisation 4.3.1 Background 4.3.2 Definitions of privatisation 4.3.3 The post-1980 theories of privatisation 4.3.4 Summary 4.4 Conclusion 5 Partial versus general equilibrium 6 Conclusion

Paul Walker is an economist in Christchurch, New Zealand. He received his PhD in Economics from the University of Canterbury, Christchurch, New Zealand. His research is mainly on the history of economics and the theory of the firm.

• Preface and acknowledgments 1 Introduction 2 The ‘past’ 2.1 Background 2.2 Neoclassical 2.2.1 Summary 2.3 Behavioural and managerial models 2.3.1 Behavioural models 2.3.2 Managerial models 2.3.3 Summary 2.4 Demsetz and the neoclassical model 2.5 Conclusion 3 The founding works 3.1 Knight - ‘Risk, Uncertainty and Profit’ 3.2 Coase - ‘The Nature of the Firm’ 3.3 Conclusion 4 The ‘present’ 4.1 The post-1970 theories of the firm 4.1.1 Mainstream theories 4.1.1.1 Principal-agent type models 4.1.1.2 Incomplete contracts models 4.1.2 Recent developments within the mainstream 4.1.2.1 The reference point approach 4.1.2.2 Spulber 2009 4.1.2.3 Foss and Klein 2012 4.1.3 Summary 4.2 Reference points, property rights and transaction costs 4.3 The theory of privatisation 4.3.1 Background 4.3.2 Definitions of privatisation 4.3.3 The post-1980 theories of privatisation 4.3.4 Summary 4.4 Conclusion 5 Partial versus general equilibrium 6 Conclusion