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| Author: | Foss, N. J. |
| Title: | Harald B. Malmgren's analysis of the firm: lessons for modern theorists? |
| Journal: | Review of Political Economy
1996 : OCT, VOL. 8:4, p. 349-366 |
| Index terms: | COMPANIES ECONOMIC ANALYSIS ORGANIZATION |
| Language: | eng |
| Abstract: | This paper analyses Harald B. Malmgren's neglected 1961 paper "Information, expectations, and the theory of the firm", which provided the first extensive elaboration of Coase's 1937 analysis in "The nature of the firm". Malmgren's primary sources of inspiration were Coase, Hayek, Richardson and Penrose. Combining these sources in a creative way allowed Malmgren to anticipate themes that have only recently been addressed in the theory of economic organization. However , there is still much to be learned from Malmgren's discussion, particularly the way in which he combined contractual and knowledge-based approaches to the firm. Moreover, Malmgren suggested that it is impossible to construct an opportunism-independent approach to economic organization. |
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