We discuss the relations between alternative conceptualizations of the market process - neoclassical, Austrian and radical subjectivist/evolutionary - and alternative approaches to economic organization, for example, nexus of contract theory, Williamsonian transaction cost economics and the...

This paper discusses, from the perspective of Austrian economics, the merits and drawbacks of game theory in economics. It begins by arguing that Austrians have neglected game theory at their peril, and then argues that game theoretic reasoning may be one way of modelling key Austrian insights,...

Among some scholars of management, organisation and also economists as well as policy makers it is argued that certain new forms of firm organisation such as flexible and learning organisations increasingly are becoming “best practice”, in an increasingly learning and global economy. On a...

The focus of this paper is on the evolution of international production by Japanese electronics firms. In the first two parts, I trace the development of Japanese production networks in Asia through three different periods. Each of these periods reflects fundamentally different strategic...

The purpose of this paper is to analyze how the spread of different international production networks in East Asia has affected the trade links of the region with the U.S. and Japan. We concentrate on one particular aspect, i.e. changes in the product composition of U.S. and Japanese electronics...

We argue that since Coase’s seminal 1937 paper on “The Nature of the Firm,” there has been an odd and unjustified separation between price theory and the economics of organization. For example, matters of production has been the domain of the former exclusively. However, a new approach to...

This paper addresses two puzzles related to industrial dynamics and competition. The first of these puzzles is that a high degree of globalization may well go hand in hand with increasing concentration. I show that one of the most globalized sectors of the electronics industry, hard disk drives...

The resource-based approach to strategy, which reaches back to the contributions of Penrose, Selznick and Chandler, has gradually become the dominant perspective in strategy (content) research, arguably because it combines realism with relative rigour. The present paper presents the main themes...

The main focus of the paper is on the recent development of clusters defined as “resource areas”. The concept has been a cornerstone in the technology and industrial policies laid out from the Danish Ministry of Business and Industry, since 1993. Earlier studies (industrial complexes)...

This paper draws upon a questionnaire survey, conducted 1996 in 1900 Danish Firms, on technical and organisational change. The topics in the survey were among others if firms been through significant organizational change, how the firm had developed its human resources, and what were the motives...