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The evolutionary theory of the firm operates on the traditional distinction between entrepreneurs (agents in charge of creating resources) and managers (agents in charge of allocating resources). The evolutionary perspective would be consistent, and stronger, if it recognized the entrepreneur's...
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The behavioral theory of the firm has been acknowledged as one of the most fundamental pillars on which evolutionary theorizing in economics has been built. Nelson and Winter's 1982 book is pervaded by the philosophy and concepts previously developed by Cyert, March and Simon. On the other hand,...
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