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Production, Information Costs, and Economic Organization
Armen A. Alchian,Harold Demsetz +1 more
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This article is published in IEEE Engineering Management Review.The article was published on 1975-06-01. It has received 8910 citations till now. The article focuses on the topics: Production (economics).read more
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Theory of the firm: Managerial behavior, agency costs and ownership structure
TL;DR: In this article, the authors draw on recent progress in the theory of property rights, agency, and finance to develop a theory of ownership structure for the firm, which casts new light on and has implications for a variety of issues in the professional and popular literature.
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Dynamic capabilities and strategic management
TL;DR: The dynamic capabilities framework as mentioned in this paper analyzes the sources and methods of wealth creation and capture by private enterprise firms operating in environments of rapid technological change, and suggests that private wealth creation in regimes of rapid technology change depends in large measure on honing intemal technological, organizational, and managerial processes inside the firm.
Toward a Knowledge-Based Theory of the Firm,” Strategic Management Journal (17), pp.
TL;DR: The primary contribution of the paper is in exploring the coordination mechanisms through which firms integrate the specialist knowledge of their members, which has implications for the basis of organizational capability, the principles of organization design, and the determinants of the horizontal and vertical boundaries of the firm.
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Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance
TL;DR: In this paper, the authors draw on the social and behavioral sciences in an endeavor to specify the nature and microfoundations of the capabilities necessary to sustain superior enterprise performance in an open economy with rapid innovation and globally dispersed sources of invention, innovation, and manufacturing capability.
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The Resource-Based Theory of Competitive Advantage: Implications for Strategy Formulation
TL;DR: In this article, the authors argue that internal resources rather than the market environment should provide the foundation for a firm's strategy, based on an analysis of relationships among resources, capabilities, conpetitive advantage, and profitability.
References
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Journal ArticleDOI
The Nature of the Firm
TL;DR: In this paper, it is shown that a definition of a firm may be obtained which is not only realistic in that it corresponds to what is meant by a firm in the real world, but is tractable by two of the most powerful instruments of economic analysis developed by Marshall, the idea of the margin and that of substitution.
Book
Risk, Uncertainty and Profit
TL;DR: In Risk, Uncertainty and Profit, Frank Knight explored the riddle of profitability in a competitive market profit should not be possible under competitive conditions, as the entry of new entrepreneurs would drive prices down and nullify margins, however evidence abounds of competitive yet profitable markets as mentioned in this paper.
Posted Content
Production, information costs, and economic organization
Armen A. Alchian,Harold Demsetz +1 more
TL;DR: In this paper, the authors present a set of reprint articles for which IEEE does not hold copyright. Full text is not available on IEEE Xplore for these articles, but full text can be found on the Internet Archive.
Book ChapterDOI
Non-contractual relations in business: a preliminary study
TL;DR: The authors found that businessmen often fail to plan exchange relationships completely, and seldom use legal sanctions to adjust these relationships or to settle disputes, and that planning and legal sanctions are often unnecessary and may have undesirable consequences.