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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. Upon purchase, you'll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed.

Economic Approaches to Organization

• 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