ENGLISH

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

By Daniel F. Spulber

Book information

Publisher
Cambridge University Press
Year
2009
ISBN
0521736609, 9780521736602
Language
english
Format
PDF
Filesize
6 MB (6164879 bytes)
Edition
1
Pages
544\540
Time added
2013-12-25 03:30:11

Description

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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