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Where Do Transactions Come From? A Network Design Perspective on the Theory of the Firm
transaction transaction cost modularity encapsulation information flows division of cognitive labor network
2015/4/20
Our goal in this paper is to explain the location of transactions (and contracts) in a larger system of production. We first characterize the system as a network of tasks and transfers. While transfer...
Knowledge: a Challenge for the Austrian Theory of the Firm
Knowledge Challenge for the Austrian Theory Firm
2014/6/27
In this paper I argue that the unequal distribution of knowledge implies that an Austrian theory of the firm must investigate two items. The first is the growth of knowledge within the firm (learning ...