The Theory of the Firm : Microeconomics with Endogenous Entrepreneurs, Firms, Markets, and Organizations
Book Details
Format
Hardback or Cased Book
ISBN-10
0521517389
ISBN-13
9780521517386
Publisher
Cambridge University Press
Imprint
Cambridge University Press
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Apr 13th, 2009
Print length
544 Pages
Weight
1,130 grams
Dimensions
26.00 x 18.50 x 3.60 cms
Product Classification:
Economic theory & philosophyEconomic theory and philosophyMicroeconomics
Ksh 24,650.00
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The Theory of the Firm presents an innovative general framework for understanding the economics of the firm. Entrepreneurs play a pivotal role by establishing firms. The book addresses why firms exist and the contributions firms make to the economy. The book reexamines the foundations of microeconomics by making institutions endogenous.
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.
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