The Theory of the Firm: Microeconomics with Endogenous Entrepreneurs, Firms, Markets, and Organizations

Paperback (Print)
Used and New from Other Sellers
Used and New from Other Sellers
from $10.98
Usually ships in 1-2 business days
(Save 75%)
Other sellers (Paperback)
  • All (14) from $10.98   
  • New (8) from $27.02   
  • Used (6) from $10.98   

Overview

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.

Read More Show Less

Editorial Reviews

From the Publisher
"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

"To say that Daniel Spulber's The Theory of the Firm is encyclopedic of everything we know about the business firm would be to sell it short. It is vastly more than a compilation and explanation of the best of extant theory, though it is that; it is also a synthesis of all this information with a new structural approach to theory that will undoubtedly guide research for years to come. Out of this comprehensive treatise on the nature, functioning, and history of the business firm comes an entirely new way of looking at this enormously complex subject. This is a work of scale, scope, wisdom, integration, and analysis such as we rarely see in business scholarship. The business firm has found its Boswell, its Britannica, its Lamarck, and maybe its Einstein." - Henry G. Manne, Dean Emeritus, George Mason University School of Law

"In The Theory of the Firm, Dan Spulber achieves an astonishingly broad and deep contribution to economics that goes beyond the topic in the title. This path-breaking work is a required read for anyone truly interested in economics and finance." - Michael C. Jensen, Professor of Business Administration Emeritus, Harvard Business School

"Daniel Spulber has written an innovative and important book that takes seriously the creation of firms and other institutions by emphasizing the multiple roles of individuals as consumers, workers, and particularly entrepreneurs. Entrepreneurs create firms when they can reduce transactions costs that impede direct exchange between consumers and factor suppliers. In doing so, firms create and manage markets and organizations. The book introduces a series of separation theorems that help to explain the economic role of the firm. The book provides novel mathematical models that address the firm's economic contributions. I highly recommend the book to economists and others with an interest in economic institutions and the organization of economic activity." - David P. Baron, Professor of Political Economy and Strategy, Emeritus, Stanford University

"This important book revolutionizes our knowledge and understanding of entrepreneurship. Dan Spulber breaks important new ground in laying out a coherent and compelling theory of entrepreneurship that is sure to impact all scholars and policy makers focusing on entrepreneurship and innovation." - David B. Audretsch, Director, Max Planck Institute of Economics and Distinguished Professor, Indiana University

"In this magnificent book, Professor Spulber undertakes the monumental task of constructing a general theory of the firm.... The Theory of the Firm presents a profound, original, and timely viewpoint of the nature of the firm. In doing so, it opens several new avenues for research.... Without a doubt, The Theory of the Firm will profoundly impact all future work exploring the nature of organizations, firms, and markets." - International Review of Economics and Finance

"Stuffed with deep and thought-provoking insights.... Highly recommended." - Choice

Read More Show Less

Product Details

  • ISBN-13: 9780521736602
  • Publisher: Cambridge University Press
  • Publication date: 4/6/2009
  • Edition description: New Edition
  • Pages: 544
  • Product dimensions: 10.24 (w) x 11.06 (h) x 1.13 (d)

Meet the Author

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).

Read More Show Less

Table of Contents

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.

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)