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Now in its fifth edition, Economic Approaches to Organisations remains one of the few texts to emphasize the importance of economic issues and developments in the study of organisations and management. It explains in a non-technical way different economic approaches such as behavioural theory of the firm, game theory, agency theory, transaction cost economics, economics of strategy and evolutionary approaches. This latest edition is packed with practical examples from real-world companies, helping you to understand how the concepts relate to economic and organizational problems happening in the world today.

Economic Approaches to Organization

• Half-Title page


• Title page


• Copyright page


• Contents


• Preface


• 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 th


• 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: informatio