Economic Approaches to Organization

Höfundar: Sytse Douma; Hein Schreuder (Útgáfa: 6)
Economic Approaches to Organization

Kaup valmöguleikar

This text explains in a non-technical way different economic approaches (including game theory, agency theory, transaction costs economics, economics of strategy and evolutionary approaches) using practical real-world examples to aid understanding of how the concepts relate to economic and organisational problems in the world today. This book is unique in the market in its attempt to make the link between management and economics.

This text straddles the disciplines of management and economics. The original conceptual framework developed by the authors and used to structure the text is a large attraction for lecturers of management and organisational studies. The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps.

Nánar um bókina

Útgefandi
Pearson International Content
ISBN
9781292128955
Print ISBN
9781292128900
Format
ePub
Útgáfa
6
Höfundar
Sytse Douma; Hein Schreuder
Tungumál
English
Útgefið
2017-04-07
Prent takmörkun á líftíma
100
Prent takmörkun
2
Afritunar takmörkun
2

Kaflar

  • Economic Approaches to Organizations
  • Economic Approaches to Organizations
  • Contents
  • Preface
  • Publisher’s acknowledgements
  • Part I Foundations
  • 1 Markets and organizations
  • 1.1 The economic problem
  • 1.2 The division of labour
  • 1.3 Specialization
  • 1.4 Coordination
  • 1.5 Markets and organizations
  • 1.6 Information
  • 1.7 The environment and institutions
  • 1.8 Historical perspective
  • 1.9 Summary: the conceptual framework of this book
  • 1.10 Outline of the book
  • Questions
  • Note
  • 2 Markets
  • 2.1 Introduction
  • 2.2 Market interaction: analysis of demand and supply
  • 2.3 Decision-making by consumers
  • 2.4 Decision-making by producers
  • 2.5 Market coordination
  • 2.6 The paradox of profits
  • 2.7 Competitive markets
  • 2.8 The main assumptions underlying standard microeconomic theory
  • 2.9 Summary: how according to standard microeconomic theory economic decisions are coordinated by the market
  • Questions
  • 3 Organizations
  • 3.1 The world of organizations
  • 3.2 Organizational coordination
  • 3.3 Types of organizations
  • 3.4 Organizational markets
  • 3.5 Organized markets
  • 3.6 The rise of the Internet and the digitization of organizations
  • 3.7 Digital platforms: a new coordination mechanism
  • 3.8 The Platform Organization
  • 3.9 Summary: how organizations achieve coordination
  • Questions
  • Notes
  • 4 Information
  • 4.1 Coordination and information
  • 4.2 Hidden information
  • 4.3 Hidden action
  • 4.4 The value of information
  • 4.5 Information as an economic good
  • 4.6 Summary: information problems for markets and organizations
  • Questions
  • Notes
  • 5 Game theory
  • 5.1 Introduction
  • 5.2 The prisoner’s dilemma
  • 5.3 Coordination games
  • 5.3.1 Choosing an industry standard
  • 5.3.2 Pure coordination
  • 5.4 The entry game
  • 5.5 The iterated prisoner’s dilemma
  • 5.6 Auctions
  • 5.7 Evolutionary game theory
  • 5.8 Summary: insights from game theory
  • Questions
  • 6 Econs and humans
  • 6.1 Introduction
  • 6.2 The social domain versus the economic domain
  • 6.3 Economic, social and moral man: bounds on self-interest
  • 6.3.1 The ultimatum game
  • 6.3.2 The prisoner’s dilemma
  • 6.3.3 The public goods game
  • 6.3.4 Collaborative commons
  • 6.4 Bounds on rationality
  • 6.4.1 Availability
  • 6.4.2 Anchoring
  • 6.4.3 Representativeness
  • 6.4.4 Framing
  • 6.4.5 Mental accounting
  • 6.4.6 The endowment effect
  • 6.5 Prospect theory
  • 6.6 Summary: behavioural economics
  • Questions
  • Part II Economic Approaches
  • 7 Behavioural theory of the firm
  • 7.1 Introduction
  • 7.2 The firm as a coalition of participants
  • 7.3 Organizational goals
  • 7.3.1 Bargaining and organizational slack
  • 7.3.2 Operational subgoals
  • 7.4 Organizational expectations
  • 7.5 Organizational choice
  • 7.6 From bounded rationality to behavioural economics
  • 7.7 Summary: goals and decision-making within the firm in behavioural theory
  • Questions
  • Note
  • 8 Agency theory
  • 8.1 Introduction
  • 8.2 Separation of ownership and control
  • 8.3 Managerial behaviour and ownership structure
  • 8.3.1 Managerial behaviour and ownership structure in a world with certainty and symmetrical information
  • 8.3.2 Monitoring and bonding
  • 8.4 Entrepreneurial firms and team production
  • 8.5 The firm as a nexus of contracts
  • 8.6 Theory of principal and agent
  • 8.6.1 The principal can observe the agent’s behaviour (symmetrical information)
  • The set of Pareto-optimal solutions
  • 8.6.2 The principal cannot observe the agent’s level of effort (asymmetrical information)
  • First-best and second-best solutions
  • 8.6.3 The principal can observe a signal concerning the agent’s level of effort
  • 8.6.4 Extending the model
  • One principal and several agents
  • Several periods
  • 8.7 Applying agency theory
  • 8.7.1 The CEO as agent of the shareholders
  • 8.7.2 The CEO and managers of business units
  • 8.8 Summary: agency relations between owners, managers and employees
  • Questions
  • Note
  • 9 Transaction cost economics
  • 9.1 Introduction
  • 9.2 Behavioural assumptions: bounded rationality and opportunism
  • 9.2.1 Bounded rationality
  • 9.2.2 Opportunism
  • 9.2.3 Atmosphere
  • 9.2.4 The fundamental transformation
  • 9.3 Dimensions of transactions
  • 9.3.1 Asset specificity
  • 9.3.2 Uncertainty/complexity
  • 9.3.3 Frequency
  • 9.3.4 Competition between organizational forms
  • 9.4 Peer groups
  • 9.4.1 Advantages of peer groups
  • 9.4.2 Limitations of peer groups
  • 9.5 Simple hierarchies
  • 9.5.1 Team production
  • 9.5.2 Economies of communication and decision-making
  • 9.5.3 Monitoring
  • 9.6 Multistage hierarchies: U-form and M-form enterprises
  • 9.7 Organizational markets
  • 9.7.1 Markets for intermediate goods and services
  • 9.7.2 Internal labour markets
  • 9.7.3 Internal capital market
  • 9.8 Digitization and transaction costs
  • 9.9 Markets and organizations: are these all there is?
  • 9.9.1 Hybrid forms
  • 9.9.1.1 Joint ventures
  • 9.9.1.2 Franchising
  • 9.9.1.3 Co-makership
  • 9.9.2 Markets, bureaucracies and clans
  • 9.9.3 The role of trust
  • 9.9.4 Impersonal trust: institutions and reputation
  • 9.10 Governance in a three-level schema
  • 9.11 Summary: effect of transaction costs on choosing between markets and organizations and organizational forms
  • Questions
  • Notes
  • 10 Economic contributions to business/competitive strategy
  • 10.1 Introduction
  • 10.2 Industry analysis
  • 10.3 Competitor analysis
  • 10.4 Competitive strategy
  • 10.5 Resource-based view of the firm
  • 10.6 Dynamic capabilities
  • 10.7 Move and counter move
  • 10.7.1 The ice-cream-selling industry
  • 10.7.2 Number of ice-cream stands
  • 10.7.3 Commitment
  • 10.7.4 Lessons from the ice-cream example
  • 10.7.5 Spatial competition
  • 10.7.6 Product competition
  • 10.7.7 First mover advantages
  • 10.7.8 Moving lessons
  • 10.8 Summary: how economic analysis can contribute to the formulation of competitive strategies
  • Questions
  • Note
  • 11 Economic contributions to corporate strategy
  • 11.1 Introduction
  • 11.2 Unrelated diversification
  • 11.2.1 Attract capital and allocate capital to business units
  • 11.2.2 Appoint, evaluate and reward business unit managers
  • 11.2.3 Offer advice
  • 11.2.4 Provide functions and services
  • 11.2.5 Performance management
  • 11.2.6 Portfolio management
  • 11.3 Related diversification
  • 11.4 Horizontal multi-nationalization
  • 11.4.1 Economies of scale
  • 11.4.2 Dynamic capabilities
  • 11.4.3 Summary
  • 11.5 Vertical integration
  • 11.5.1 Technological interdependence
  • 11.5.2 Critical dimensions of transactions
  • Case 1: Asset specificity low on both sides, uncertainty/complexity low
  • Case 2: Asset specificity high on both sides, uncertainty/complexity low
  • Case 3: Asset specificity high on one side, uncertainty/complexity low
  • Case 4: Asset specificity low on both sides, uncertainty/complexity high
  • Case 5: Asset specificity high on both sides, uncertainty/complexity high
  • Case 6: Asset specificity high for one party and low for the other, uncertainty/complexity high
  • 11.6 Summary
  • Questions
  • Notes
  • 12 Evolutionary approaches to organizations
  • 12.1 Introduction
  • 12.2 Giraffes
  • 12.3 Organizations and giraffes
  • 12.4 Organizational ecology
  • 12.5 An evolutionary theory of economic change
  • 12.6 Comparison
  • 12.7 The evolution of dynamic capabilities
  • 12.8 Further developments
  • 12.9 Summary: the evolutionary perspective
  • Questions
  • Notes
  • 13 All in the family
  • 13.1 Introduction
  • 13.2 The basic conceptual framework
  • 13.3 Family resemblances
  • 13.3.1 Organizations and markets
  • 13.3.2 Efficiency
  • 13.3.3 Information
  • 13.4 Family differences
  • 13.4.1 Process versus content approaches
  • 13.4.2 Static versus dynamic approaches
  • 13.4.3 Levels of analysis
  • 13.5 Summary: all in the family?
  • 13.6 Organizations as complex, adaptive systems
  • 13.6.1 From standard economics to complexity economics
  • 13.6.2 The complexity approach to organizations
  • 13.6.3 Organizations as complex, adaptive systems
  • 13.6.4 Coevolution and adaptation: the ultimate organizational challenge.
  • Questions
  • Notes
  • Bibliography
  • Index
  • A
  • B
  • C
  • D
  • E
  • F
  • G
  • H
  • I
  • J
  • L
  • M
  • N
  • O
  • P
  • Q
  • R
  • S
  • T
  • U
  • V
  • W