Firms, Markets and Economic Change: A dynamic Theory of Business Institutions

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ISBN: 9780415121194 | 0415121191
Cover: Hardcover
Copyright: 7/28/1995

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Summary

Supplemental Materials

The authors argue that innovation is a complex process that defies neat categorization and government policy should be to facilitate change rather than to direct it.

List of figures and tables

Acknowledgments

Introduction

(6)

On business institutions

(1)

Overview of the theory

(3)

Plan of the book

(2)

Capabilities, Strategy and The Firm

(13)

Classical and neoclassical theories

(1)

The ``why'' of firms

(4)

Routines, capabilities, and organization

(4)

Strategy and the boundaries of the firm

(3)

A Dynamic Theory of the Boundaries of The Firm

(26)

The division of labor

(7)

Transaction costs in the short run

(2)

Transaction costs in the long run

(1)

Capabilities and governance costs

(2)

Transaction costs and the passage of time

(3)

The sources of dynamic transaction costs

(1)

Coordination and appropriability

(4)

Capabilities in the long run

(1)

The short- and long-run boundaries of the firm

(2)

The dynamics of firm and industry evolution

(3)

Vertical Integration In The Early American Automobile Industry

(22)

Invention and product development

(3)

Product standardization and mass production

(8)

Replacement demand and model changes

(10)

External Capabilities and Modular Systems

(33)

The theory of modular systems

(7)

Product differentiation and the product life cycle

(1)

The development of high-fidelity and stereo systems

(10)

The microcomputer industry

(12)

Other examples of modular systems

(2)

INTERTIA AND INDUSTRIAL CHANGE

101

(19)

Introduction

101

(1)

Institutions and inertia

102

(2)

The role of routines and capabilities

104

(2)

Learning and inertia

106

(2)

The population dynamics of market dominance

108

(4)

Four hypotheses

112

(6)

Conclusions

118

(2)

Innovation, Networks and Vertical Integration

120

(23)

Introduction

120

(4)

Networks and networks

124

(8)

Specialization and appropriability

132

(3)

Networks and economic change

135

(1)

Industry structure and the scope of innovation

136

(2)

Innovation and the product life cycle

138

(3)

Conclusion

141

(2)

Conclusion

143

(8)

The role of large firms in economic growth

144

(3)

Convergence and divergence in economic development

147

(4)

Notes

151

(13)

Bibliography

164

(14)

Index

178

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Firms, Markets and Economic Change: A dynamic Theory of Business Institutions

Summary

Table of Contents

Supplemental Materials