The Theory of the Firm

Microeconomics with Endogenous Entrepreneurs, Firms, Markets, and Organizations

by

Subject categories
ISBNs
  • 9780521517386
  • 9780511530760
  • 9780511738784
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.
  • Cambridge University Press; April 2009
  • ISBN: 9780511530760
  • Read online, or download in secure PDF or secure ePub format
  • Title: The Theory of the Firm
  • Author: Daniel F. Spulber
  • Imprint: Cambridge University Press
Subject categories
ISBNs
  • 9780521517386
  • 9780511530760
  • 9780511738784

In The Press

'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