This book brings together classic writings on the economic nature and organization of firms, including works by Ronald Coase, Armen Alchian and Harold Demsetz, Michael Jensen and William Meckling, and Oliver Williamson, as well as more recent contributions by Paul Milgrom and John Roberts, Bengt Holmstrom, and Oliver Hart. Part I explores the general theme of the firm's economic nature and its place in the market system; Part II covers the scope of the firm; Part III examines internal organization and the human factor; and Part IV ties the firm's organization and behavior to issues of financing and ownership. This second edition has twelve new selections and an introductory essay that surveys the new institutional economics of the firm.
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Editorial Reviews
Review
'Over the years, this classic reader has been a terrific source for those seeking to understand the nature of the firm. The updated material in the new edition will extend this distinguished record.' Bengt Holmstrom, MIT
'For decades, economists focused on the miracle of the market to explain the productive performance of advanced economies. But both the miracles and the problems of modern economies are mostly rooted inside the firms that the system cultivates. The previous editions of the Kroszner-Putterman reader served my students well by exposing them to the deepest economic thinking about the role of the firm. This new edition has some great additions that keep this reader right up to date.' Paul Milgrom, Stanford University --This text refers to an alternate Paperback edition.
'For decades, economists focused on the miracle of the market to explain the productive performance of advanced economies. But both the miracles and the problems of modern economies are mostly rooted inside the firms that the system cultivates. The previous editions of the Kroszner-Putterman reader served my students well by exposing them to the deepest economic thinking about the role of the firm. This new edition has some great additions that keep this reader right up to date.' Paul Milgrom, Stanford University --This text refers to an alternate Paperback edition.
Book Description
Part I explores the general theme of the firm's economic nature and its place in the market system; Part II covers the scope of the firm; Part III examines internal organization and the human factor; and Part IV ties the firm's organization and behavior to issues of financing and ownership.
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4.0 out of 5 stars
A pleasant surprise,
By
This review is from: The Economic Nature of the Firm: A Reader (Paperback)
The introductory essay in this new edition is a pleasant surprise, it is probably the best survey in the topic so far.
2 of 5 people found the following review helpful:
5.0 out of 5 stars
Excellent compilation of readings for economics of the firm,
By Ramon Garcia (Miami, Florida United States) - See all my reviews
This review is from: The Economic Nature of the Firm: A Reader (Paperback)
All the information you need and the appropiate readings are here in this book, which can be very usefull for the study of the economics of a firm and many other topics in business economics. Worth a look!
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Inside This Book
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First Sentence:
The greates improvement in the productive powers of labour, and the greater part of the skill, dexterity, and judgment with which it is any where directed, or applied, seem to have been the effects of the division of labour. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
open corporate form, specialized quasi rents, restricted residual claims, labor extraction function, cash posters, measured marginal product, joint input production, postcontractual opportunistic behavior, appropriable quasi rents, outside equity holders, perfunctory cooperation, multiproduct organization, open corporations, nonpecuniary benefits, post settling, cooperating inputs, detail labourer, costly haggling, managerial labor market, classical firm, contested exchange, idiosyncratic tasks, transactional difficulties, private copartnery, employment rent Key Phrases - Capitalized Phrases (CAPs): (learn more)
Professor of Economics, Professor Knight, University of Chicago, New York, Adam Smith, University of California, Harvard University, Oliver Williamson, Benjamin Klein, Golden Rule, United States, Frank Knight, General Motors, Harold Demsetz, Ronald Coase, Stanford University, Eugene Fama, Alfred Chandler, Henry Manne, Los Angeles, Massachusetts Institute of Technology, Graduate School of Business, Maurice Dobb, University of Pennsylvania, Yale University New!
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Front Cover | Table of Contents | First Pages | Back Cover | Surprise Me!
The greates improvement in the productive powers of labour, and the greater part of the skill, dexterity, and judgment with which it is any where directed, or applied, seem to have been the effects of the division of labour. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
open corporate form, specialized quasi rents, restricted residual claims, labor extraction function, cash posters, measured marginal product, joint input production, postcontractual opportunistic behavior, appropriable quasi rents, outside equity holders, perfunctory cooperation, multiproduct organization, open corporations, nonpecuniary benefits, post settling, cooperating inputs, detail labourer, costly haggling, managerial labor market, classical firm, contested exchange, idiosyncratic tasks, transactional difficulties, private copartnery, employment rent Key Phrases - Capitalized Phrases (CAPs): (learn more)
Professor of Economics, Professor Knight, University of Chicago, New York, Adam Smith, University of California, Harvard University, Oliver Williamson, Benjamin Klein, Golden Rule, United States, Frank Knight, General Motors, Harold Demsetz, Ronald Coase, Stanford University, Eugene Fama, Alfred Chandler, Henry Manne, Los Angeles, Massachusetts Institute of Technology, Graduate School of Business, Maurice Dobb, University of Pennsylvania, Yale University New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Back Cover | Surprise Me!
Citations (learn more)
This book cites 79
books:
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34
books
cite this book:
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- The Economic Institutions of Capitalism by Oliver E. Williamson on 4 pages
- Perspectives on Positive Political Economy (Political Economy of Institutions and Decisions) by James E. Alt on page 162, Back Matter (1), and Back Matter (2)
- Risk, Uncertainty and Profit (Dover Books on History, Political and Social Science) by Frank H. Knight on page 60, page 99, and Back Matter
- The Wealth of Nations (Bantam Classics) by Adam Smith on page 35, page 315, and Back Matter
- Rent-Seeking Society, The (Selected Works of Gordon Tullock, The) (v. 5) by Gordon Tullock on page 220, and Back Matter
See all 79 books this book cites
- Information, Social Relations and the Economics of High Technology by Michael Perelman on 8 pages
- Political Economy: A Comparative Approach, Second Edition by Barry Clark on page 198, and Back Matter
- The Sovereign Individual: How to Survive and Thrive During the Collapse of the Welfare State by James Dale Davidson in Back Matter (1), and Back Matter (2)
- Transcending the Economy: On the Potential of Passionate Labor and the Wastes of the Market by Michael Perelman in Back Matter (1), and Back Matter (2)
- The Sovereign Individual: Mastering the Transition to the Information Age by James Dale Davidson in Back Matter (1), and Back Matter (2)
See all 34 books citing this book
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