Birger Wernerfelt is the J. C. Penney Professor of Management at the Sloan School of Management, Massachusetts Institute of Technology.
Inhaltsangabe
Preface Part I. Agenda: 1. Introduction 2. Preview: small forces, high frequencies, and large firms Part II. The Main Argument: 3. Adaptation costs in one dimension: firms, contracts, and price lists 4. Adaptation costs in three dimensions: firms, markets, and contracts 5. All adaptations are not the same: the scope of firms and the size of markets 6. Resources and the scope of the firm Part III. Implications: 7. The allocation of asset ownership 8. Communication within and between firms 9. The power of incentives within and between firms 10. Decision-making in large organizations Part IV. Empirical Tests: 11. Bargaining costs: existence and sub-additivity 12. Adaptation frequency and the boundary of the firm 13. Asset ownership and externalities Part V. Foundations: 14. Endogenously incomplete contracts 15. Multiple equilibria and firm heterogeneity 16. On the endogenous amplification of small differences Part VI. Postscript: 17. Summary and final reflections Index.
Preface Part I. Agenda: 1. Introduction 2. Preview: small forces, high frequencies, and large firms Part II. The Main Argument: 3. Adaptation costs in one dimension: firms, contracts, and price lists 4. Adaptation costs in three dimensions: firms, markets, and contracts 5. All adaptations are not the same: the scope of firms and the size of markets 6. Resources and the scope of the firm Part III. Implications: 7. The allocation of asset ownership 8. Communication within and between firms 9. The power of incentives within and between firms 10. Decision-making in large organizations Part IV. Empirical Tests: 11. Bargaining costs: existence and sub-additivity 12. Adaptation frequency and the boundary of the firm 13. Asset ownership and externalities Part V. Foundations: 14. Endogenously incomplete contracts 15. Multiple equilibria and firm heterogeneity 16. On the endogenous amplification of small differences Part VI. Postscript: 17. Summary and final reflections Index.
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