ScholarLens Back to search
2009•Scottish Journal of Political EconomyRequires access

THE (NON)THEORY OF THE KNOWLEDGE FIRM

Paul Walker

Open publisher page 11 citations

Abstract

This paper argues that the mainstream approaches to the theory of the firm do not provide a theory of the human capital-based or knowledge firm. We examine the neoclassical theory of the firm, the transaction cost model, the incentive-system approach and the Grossman Hart Moore approach and argue that none of them is able to fully capture the changes to the firm that the movement towards a knowledge economy entails. We also consider the effects of knowledge on the organisation of production. Will production take place within a single large factory, or several smaller factories or even within households?

About this research paper

What this paper is about

This paper argues that the mainstream approaches to the theory of the firm do not provide a theory of the human capital-based or knowledge firm. We examine the neoclassical theory of the firm, the transaction cost model, the incentive-system approach and the Grossman Hart Moore approach and argue that none of them is able to fully capture the changes to the firm that the movement towards a knowledge economy entails. We also consider the effects of knowledge on the organisation of production. Will production take place within a single large factory, or several smaller factories or even within households?

Why it matters

OpenAlex reports 11 citations for this work. Citation counts describe recorded attention and do not establish research quality.

Key contribution

A contribution statement is not available in the OpenAlex record.

Method / approach

Method details are not available in the OpenAlex metadata.

Main findings

Findings are not separately available in the OpenAlex metadata.

Limitations

Limitations are not available in the OpenAlex metadata.

Applications

Application details are not available in the OpenAlex metadata.

Available abstract

This paper argues that the mainstream approaches to the theory of the firm do not provide a theory of the human capital-based or knowledge firm. We examine the neoclassical theory of the firm, the transaction cost model, the incentive-system approach and the Grossman Hart Moore approach and argue that none of them is able to fully capture the changes to the firm that the movement towards a knowledge economy entails. We also consider the effects of knowledge on the organisation of production. Will production take place within a single large factory, or several smaller factories or even within households?

Key concepts: Grossman, Economics, Theory of the firm, Transaction cost, Incentive, Production (economics), Neoclassical economics, Mainstream

Related papers

Related paper 1Related paper 2Related paper 3
Back to paper searchBrowse research topicsOriginal source
THE (NON)THEORY OF THE KNOWLEDGE FIRM — Research Paper | ScholarLens