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| Author: | Foss, N.J. |
| Title: | Bounded rationality and tacit knowledge in the organizational capabilities approach: an assessment and a re-evolution |
| Journal: | Industrial and Corporate Change
2003 : APR, VOL. 12:2, p. 185-201 |
| Index terms: | Knowledge Rationality |
| Freeterms: | Capabilities |
| Language: | eng |
| Abstract: | The famous three chapters in Nelson and Winter's An Evolutionary Theory of Economic Change (1982) that focus on firm routines and capabilities are often taken to be solidly founded on an assumption of bounded rationality. The author argues that, in actuality, bounded rationality plays a rather limited role in Nelson and Winter (1982), that the very different assumption of tacit knowledge is much more central, and that the links between bounded rationality and routines/capabilities are not clear. |
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