Evolutionary and Competence-Based Theories of the Firm
Vol. 5, No 1, 2012
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Balazs Kallay University of West Hungary
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Evolutionary and competence-based theories of the firm |
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Abstract: Around the 1980’s the critiques about contract theories of the firm were getting more intense, and consequently the so-called evolutionary and competence-based theories of the firm were born. Although forming less homogeneous groups, these theories focus basically on different questions: they primarily wanted to explain the heterogeneity of firms; they were eager to know why firms differ. In the present work I examine the critical remarks of the contract theories and the newly developed – earlier as well as present-day – theories of the major schools of economic thought. |
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Keywords: Theory, firm, contract, competence, evolutionary, knowledge. JEL Classification: D21. |
