The Theory of the Firm

Microeconomics with Endogenous Entrepreneurs, Firms, Markets, and Organizations

Inbunden, Engelska, 2009

Av Daniel F. Spulber, Illinois) Spulber, Daniel F. (Northwestern University

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The Theory of the Firm presents a path-breaking general framework for understanding the economics of the firm. The book addresses why firms exist, how firms are established, and what contributions firms make to the economy. The book presents a new theoretical analysis of the foundations of microeconomics that makes institutions endogenous. Entrepreneurs play a central economic role by establishing firms. In turn, firms create and operate markets and organizations. The book provides innovative models of economic equilibrium that endogenously determine the structure and function of economic institutions. The book proposes an 'intermediation hypothesis' - the establishment of firms depends on the effects of transaction costs and on the extent of the market.

Produktinformation

Utgivningsdatum2009-04-13
Mått183 x 254 x 33 mm
Vikt1 110 g
FormatInbunden
SpråkEngelska
Antal sidor544
FörlagCambridge University Press
ISBN9780521517386

Tillhör följande kategorier

Nationalekonomi inom Ekonomi och ledarskap
Mikroekonomi inom Ekonomi och ledarskap

Daniel F. Spulber is the Elinor Hobbs Distinguished Professor of International Business and Professor of Management Strategy at Northwestern University's Kellogg School of Management. He is the founding editor of the Journal of Economics and Management Strategy. Founder of Kellogg's International Business and Markets Program, his current research is in the area of entrepreneurship, international economics, economics of organizations, industrial organization, management strategy, and law. Spulber is the author of 11 books, including Networks in Telecommunications: Economics and Law (with Christopher Yoo, forthcoming), Global Competitive Strategy (2007), Market Microstructure: Intermediaries and the Theory of the Firm (1999), and Deregulatory Takings and the Regulatory Contract: The Competitive Transformation of Network Industries in the United States (with J. Gregory Sidak, 1997), all from Cambridge University Press, and Management Strategy (2004), The Market Makers (1998), and Regulation and Markets (1989).

Introduction; Part I. The Theory of the Firm: 1. The consumer; 2. The firm; 3. Separation of consumer objectives and firm objectives; Part II. The Entrepreneur in Equilibrium: 4. The entrepreneur; 5. Competition between entrepreneurs; Part III. Human Capital and Financial Capital: 6. Human capital and the organization of the firm; 7. Financial capital and the organization of the firm; Part IV. Intermediation by the Firm: 8. The firm as intermediary in the pure exchange economy; 9. The firm versus free riding; Part V. Market Making by the Firm: 10. The firm creates markets; 11. The firm in the market for contracts; 12. Conclusion.

'Daniel Spulber has produced nothing less than a magisterial work. His treatment of firm formation and the role of entrepreneurs in economic activity makes it a certainty that introductory texts in economics will have to be rewritten to accommodate the importance of his work and insight. For the first time, Schumpeter's work has been expanded and settled within the context of modern economics such that the transformation of our economy toward entrepreneurial capitalism has a new and profoundly well-reasoned theoretical basis.' Carl J. Schramm, President, Ewing Marion Kauffman Foundation