Skip to main content Accessibility help
×
Hostname: page-component-84b7d79bbc-5lx2p Total loading time: 0 Render date: 2024-07-28T01:21:51.923Z Has data issue: false hasContentIssue false

Part V - Foundations

Published online by Cambridge University Press:  03 November 2016

Birger Wernerfelt
Affiliation:
Massachusetts Institute of Technology
Get access

Summary

Image of the first page of this content. For PDF version, please use the ‘Save PDF’ preceeding this image.'
Type
Chapter
Information
Adaptation, Specialization, and the Theory of the Firm
Foundations of the Resource-Based View
, pp. 251 - 298
Publisher: Cambridge University Press
Print publication year: 2016

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

References

Aghion, Philippe, and Tirole, Jean, “Formal and Real Authority in Organizations,” Journal of Political Economy, 105, no. 1, February, 129, 1997.CrossRefGoogle Scholar
Arrow, Kenneth J., The Limits of Organization, New York, NY: W. W. Norton, 1974.Google Scholar
Bajari, Patrick, and Tadelis, Steven, “Incentives versus Transaction Costs: A Theory of Procurement Contracts,” RAND Journal of Economics, 32, no. 3, Autumn, 387407, 2001.Google Scholar
Baker, George P., Gibbons, Robert, and Murphy, Kevin J., “Subjective Performance Measures in Optimal Incentive Contracts,” Quarterly Journal of Economics, 109, no. 4, November, 1125–56, 1994.Google Scholar
Baker, George P., Gibbons, Robert, and Murphy, Kevin J., “Contracting for Control,” Working Paper, Harvard Business School, 2006.Google Scholar
Barnard, Chester I., The Functions of the Executive (Thirtieth Anniversary Edition), Cambridge, MA, Harvard University Press, 1968.Google Scholar
Belmont Citizen-Herald, Lexington, MA: Community Newspaper Company, August 7, 2003a.Google Scholar
Belmont Citizen-Herald, Lexington, MA: Community Newspaper Company, August 14, 2003b.Google Scholar
Bernheim, B. Douglas, and Whinston, Michael D., “Incomplete Contracts and Strategic Ambiguity,” American Economic Review, 88, no. 4, September, 902–32, 1998.Google Scholar
Bolton, Patrick, and Rajan, Ashvin, “The Employment Relation and the Theory of the Firm: Arm’s Length Contracting vs. Authority,” Working Paper, Princeton University, 2001.Google Scholar
Crocker, Keith J., and Reynolds, Kenneth J., “The Efficiency of Incomplete Contracts: An Empirical Analysis of Air Force Engine Procurement,” RAND Journal of Economics, 24, no. 1, Spring, 126–46, 1993.Google Scholar
Dessein, Wouter, “Authority and Communication in Organizations,” Review of Economic Studies, 69, no. 4, 811–38, 2002.CrossRefGoogle Scholar
Dewatripont, Mathias, and Tirole, Jean, “Modes of Communication,” Journal of Political Economy, 113, no. 6, December, 1217–38, 2005.Google Scholar
Dye, Ronald A., “Costly Contract Contingencies,” International Economic Review, 26, no. 1, February, 233–50, 1985.Google Scholar
Gil, Ricard, “The Interplay of Informal, Formal, and Relational Contracts: Evidence from Movies,” Working Paper, University of California, Santa Cruz, 2006.Google Scholar
Grossman, Sanford, and Hart, Oliver D., “The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration,” Journal of Political Economy, 94, no. 4, August, 691719, 1986.CrossRefGoogle Scholar
Hart, Oliver D., and Moore, John, “Agreeing Now to Agree Later: Contracts that Rule Out but do not Rule In,” Working Paper, Harvard University, 2004.Google Scholar
Hart, Oliver D., and Moore, John, “Contracts as Reference Points,” Working Paper, Harvard University, 2006.Google Scholar
Hayek, Friedrich A. von, “The Use of Knowledge in Society,” American Economic Review, 35, no. 4, 519–30, 1945.Google Scholar
Lieberman, Marvin B., “The Learning Curve and Pricing in the Chemical Processing Industries,” Rand Journal of Economics, 15, no. 2, 231–28, 1984.Google Scholar
MacLeod, W. Bentley, and Malcomson, James M., “Implicit Contracts, Incentive Compatibility, and Involuntary Unemployment,” Econometrica, 57, no. 2, March, 447–80, 1989.Google Scholar
Muth, Richard F., and Wetzler, Elliot, “The Effect of Constraints on House Costs,” Journal of Urban Economics, 3, no. 1, 5767, 1976.Google Scholar
Myerson, Roger B., and Satterthwaite, Mark A., “Efficient Mechanisms for Bilateral Trading,” Journal of Economic Theory, 29, 265–81, 1983.Google Scholar
Schwartz, Allan, and Watson, Joel, “The Law and Economics of Costly Contracting,” Journal of Law, Economics, and Organization, 20, no. 1, April, 231, 2004.Google Scholar
Segal, Ilya, “Complexity and Renegotiation: A Foundation for Incomplete Contracts,” Review of Economic Studies, 66, no. 1, January, 5782, 1999.Google Scholar
Segal, Ilya, “Communication Complexity and Coordination by Authority,” Advances in Theoretical Economics, 4, Forthcoming, 2006 (www.bepress.com/bejte/advances/).Google Scholar
Shavell, Steven, “The Appeals Process and Adjudicator Incentives,” Journal of Legal Studies, 35, no. 1, 129, 2006 .Google Scholar
Simon, Herbert A., Administrative Behavior (Third Ed.), New York, NY: The Free Press, 1976.Google Scholar
Spier, Kathryn E.Incomplete Signals and Signalling,” Rand Journal of Economics, 23, no. 3, Autumn, 432–43, 1992 .Google Scholar
Tadelis, Steven, “Complexity, Flexibility, and the Make-or-Buy Decision,” American Economic Review, 92, no.2, May, 433–37, 2002.Google Scholar
Wernerfelt, Birger, “On the Nature and Scope of the Firm: An Adjustment-Cost Theory,” Journal of Business, 70, no. 4, 489514, 1997.CrossRefGoogle Scholar
Wernerfelt, Birger, “Delegation, Committees, and Managers,” Journal of Economics and Management Strategy, 16, no. 1, Spring, 3551, 2007.Google Scholar
Wernerfelt, Birger, “Bargaining Before or After Communication?Journal of Institutional and Theoretical Economics, 164, no. 2, June, 211–29, 2008 .CrossRefGoogle Scholar
Wernerfelt, Birger, “The Comparative Advantages of Firms, Markets, and Contracts: A Unified Theory,” Economica, 82, no. 329, 350657, 2015.Google Scholar
Zbaracki, Mark J., Ritson, Mark, Levy, Daniel, Dutta, Shantanu, and Bergen, Mark, “Managerial and Customer Costs of Price Adjustment: Direct Evidence from Industrial Markets,” Review of Economics and Statistics, 86, no. 2, May, 514–33, 2004.Google Scholar

References

Arrow, Kenneth J., The Limits of Organization, New York, NY: W.W. Norton, 1974.Google Scholar
Bolton, Patrick, and Dewatripont, Mathias, “The Firm as a Communication Network,” Quarterly Journal of Economics, 109, no. 4, November, 809–40, 1994.CrossRefGoogle Scholar
Crawford, Vincent B., and Sobel, Joel, “Strategic Information Transmission,” Econometrica, 50, no. 6, November, 1431–52, 1982.CrossRefGoogle Scholar
Cremer, Jacques, Garicano, Luis, and Prat, Andrea, “Codes in Organizations,” Manuscript, University of Chicago, 2003.Google Scholar
Cyert, Richard M., and March, James G., A Behavioral Theory of the Firm, Englewood Cliffs, NJ: Prentice Hall, 1963.Google Scholar
Dougherty, Deborah, “Interpretative Barriers to Successful Product Innovation in Large Firms,” Organization Science, 3, no.2, May, 179202, 1992.CrossRefGoogle Scholar
Douglas, M., How Institutions Think, London: Routledge and Kegan Paul, 1987.Google Scholar
Dow, James, “Search Decisions with Limited Memory,” Review of Economic Studies, 58, no.1, January, 114, 1991.Google Scholar
Holland, John H., Holyoak, Keith J., Nisbett, Richard E., and Thagard, Paul R., Induction: Processes of Inference, Learning, and Discovery, Cambridge, MA: MIT Press, 1986.Google Scholar
Kofman, Fred, and Ratliff, James D., “Monologue vs. Dialog in Costly Bilateral Communication,” Journal of Economic Behavior and Organization, 31, no. 1, December, 431–43, 1996.Google Scholar
Kushilevitz, Eyal, and Nisan, Noam, Communication Complexity, Cambridge, UK: Cambridge University Press, 1997.Google Scholar
Lakoff, George, Women, Fire, and Dangerous Things, Chicago, IL: The University of Chicago Press, 1987.CrossRefGoogle Scholar
Lewis, Michael, “Focus: Like Zebras and Hyenas,” The Independent, p. 21, April 19, 1998.Google Scholar
Marschak, Jacob, “The Economics of Language,” Behavioral Science, 10, no. 2, April, 135–40, 1965.CrossRefGoogle ScholarPubMed
Meyer, Margaret A., “Learning from Coarse Information: Biased Contests and Career Profiles,” Review of Economic Studies, 58, no. 1, January, 1541, 1991.Google Scholar
Nelson, Richard R., and Winter, Sidney G., An Evolutionary Theory of Economic Change, Cambridge, MA: Harvard University Press, 1982.Google Scholar
Nisan, Noam, and Segal, Ilya, “The Communication Requirements of Efficient Allocations and Supporting Lindahl Price,” Manuscript, Stanford University, 2003.Google Scholar
Polanyi, Michael, Personal Knowledge: Towards a Post-Critical Philosophy, New York, NY: Harper and Row, 1962.Google Scholar
Radner, Roy, “Hierarchy: The Economics of Managing,” Journal of Economic Literature, 30, no. 3, September, 1382–415, 1992.Google Scholar
Rosch, Eleanor (Eleanor Heider), “Natural Categories,” Cognitive Psychology, 4, pp. 328–50, 1973.Google Scholar
Rubinstein, Ariel, “Economics and Language,” Manuscript, School of Economics, Tel Aviv University, 1998.Google Scholar
Shannon, Claude E., and Weaver, Warren, The Mathematical Theory of Communications, Urbana, IL: University of Illinois Press, 1949.Google Scholar
Simester, Duncan I., and Knez, Marc, “Direct and Indirect Bargaining Costs and the Scope of the Firm,” Journal of Business, 75, no. 2, April, pp. 283302, 2002.Google Scholar
Simon, Herbert A., Administrative Behavior, 3rd edn., New York, NY: The Free Press, 1976.Google Scholar
Tushman, Michael L., “Technical Communication in R&D Laboratories: The Impact of Project Work Characteristics,” Academy of Management Journal, 21, no. 4, 624–45, 1978.CrossRefGoogle Scholar
Van Zandt, Timothy, and Radner, Roy, “Real-Time Decentralized Information Processing and Returns to Scale,” Economic Theory, 17, no. 3, 545–75, 2001.Google Scholar
Weber, Roberto A., and Camerer, Colin F., “An Experimental Approach to the Study of Organizational Culture,” Management Science, 49, no. 4, April, 400–15, 2003.Google Scholar
Wernerfelt, Birger, “On the Nature and Scope of the Firm: An Adjustment-Cost Theory,” Journal of Business, 70, no. 4, October, 489514, 1997.CrossRefGoogle Scholar
Wernerfelt, Birger, “Bargaining Before or After Communication?Journal of Institutional and Theoretical Economics, 164, no. 2, June, pp. 211–29, 2008.CrossRefGoogle Scholar
Williamson, Oliver E., Markets and Hierarchies, New York, NY, The Free Press, 1975.Google Scholar

References

Cohen, Wesley M., and Levinthal, Daniel A., “Absorptive Capacity: A New Perspective on Learning and Innovation,” Administrative Science Quarterly, 35, no. 1, 128–52, 1990.Google Scholar
D’Aunno, Thomas, Succi, Melissa, and Alexander, Jeffrey A., “The Role of Institutional and Market Forces in Divergent Organizational Change,” Administrative Science Quarterly, 45, no. 4, 679703, 2000.Google Scholar
Ghemawat, Pankaj, Commitment, New York, NY: The Free Press, 1991.Google Scholar
Hannan, Michael T., and Freeman, John, Organizational Ecology, Cambridge, MA: Harvard University Press, 1989.Google Scholar
Helfat, Constance E. (ed.), “The Evolution of Firm Capabilities,” Strategic Management Journal, 21, special issue 10–11, 2000.Google Scholar
Lippman, Steven A., and Rumelt, Richard P., “Uncertain Imitability: An Analysis of Interfirm Differences Under Competition,” Bell Journal of Economics, 13, 418–38, 1982.Google Scholar
Monteverde, Kirk, “Technical Dialog as an Incentive for Vertical Integration in the Semiconductor Industry,” Management Science, 41, no. 10, 1624–38, 1995.CrossRefGoogle Scholar
Nelson, Richard R., “Why Do Firms Differ and How Does it Matter?Strategic Management Journal, 12, Winter, 6174, 1991.Google Scholar
Nelson, Richard R., and Winter, Sidney G., An Evolutionary Theory of Economic Change, Cambridge, MA: Harvard University Press, 1982.Google Scholar
Polanyi, Michael, Personal Knowledge: Towards a Post-critical Philosophy, New York: NY, Harper and Row, 1962.Google Scholar
Rumelt, Richard P., Schendel, Daniel, and Teece, David J., “Strategic Management and Economics,” Strategic Management Journal, 12 (Winter), 530, 1991.Google Scholar
Simester, Duncan I., and Knez, Marc, “Direct and Indirect Bargaining Costs and the Scope of the Firm,” Journal of Business, 75, no. 2, 283304, 2002.Google Scholar
Simon, Herbert A., Administrative Behavior, New York, NY: The Free Press, 3rd edn., 1976.Google Scholar
Sutton, John, Sunk Costs and Market Structure, Cambridge, MA: MIT Press, 1991.Google Scholar
Tushman, Michael L., “Technical Communication in R&D Laboratories: the Impact of Project Work Characteristic,” Academy of Management Journal, 21, no. 4, 624–45, 1978.Google Scholar
Wernerfelt, Birger, “On the Nature and Scope of the Firm: an Adjustment-Cost Theory,” Journal of Business, 70, no. 4, 489514, 1997.Google Scholar
Wernerfelt, Birger, “Organizational Languages,” Journal of Economics and Management Strategy, 13, 461–72, 2004.Google Scholar
Wernerfelt, Birger, “Bargaining Before or After Communication?,” Journal of Institutional and Theoretical Economics, 164, no. 2, 211–29, 2008.Google Scholar

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

  • Foundations
  • Birger Wernerfelt, Massachusetts Institute of Technology
  • Book: Adaptation, Specialization, and the Theory of the Firm
  • Online publication: 03 November 2016
  • Chapter DOI: https://doi.org/10.1017/CBO9781316466872.018
Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

  • Foundations
  • Birger Wernerfelt, Massachusetts Institute of Technology
  • Book: Adaptation, Specialization, and the Theory of the Firm
  • Online publication: 03 November 2016
  • Chapter DOI: https://doi.org/10.1017/CBO9781316466872.018
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Foundations
  • Birger Wernerfelt, Massachusetts Institute of Technology
  • Book: Adaptation, Specialization, and the Theory of the Firm
  • Online publication: 03 November 2016
  • Chapter DOI: https://doi.org/10.1017/CBO9781316466872.018
Available formats
×