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Austrian economics and the theory of the firm:
a bibliography

This is a revised and expanded version of a bibliography prepared for Nicolai J. Foss and Peter G. Klein, eds., Entrepreneurship and the Firm: Austrian Perspectives on Economic Organization (Aldershott, U.K.: Edward Elgar, 2002). See also the related section below on Austrian perspectives on strategic management.

Please send corrections and suggestions for additional entries to pklein@missouri.edu.

Related: Organizations and Markets

[Last updated: 3 February 2010]


Adelstein, Richard. 2005. "Knowledge and Power in the Mechanical Firm: Planning for Profit in Austrian Perpsective." Review of Austrian Economics 18(1): 55-82.

Block, Walter, William Barnett II, and Stuart Wood. 2002. "Austrian Economics, Neoclassical Economics, Marketing, and Finance." Quarterly Journal of Austrian Economics 5(2): 51-66.

Boettke, Peter J. 1998. "Coase, Communism, and the Black Box of the Soviet-Type Firm." In Steven Medema, ed., Coasean Economics: Law and Economics and the New Institutional Economics. Boston: Kluwer, pp. 193-207.

Boudreaux, Donald, and Randall Holcombe. 1989 "The Coasian and Knightian Theories of the Firm." Managerial and Decision Economics 10: 147-54.

Chiles, T. H., & Choi, T. Y. 2000. "Theorizing TQM: An Austrian and Evolutionary Economics Interpretation." Journal of Management Studies 37(2): 185-212.

Cowen, Tyler and Jerry Ellig. 1996. "Market-Based Management at Koch Industries: Discovery, Dissemination, and Integration of Knowledge." Competitive Intelligence Review 6: 4-13.

Cowen, Tyler and David Parker. 1997. Markets in the Firm: A Market Process Approach to Management. London: The Institute of Economic Affairs.

Dulbecco, Philippe and Pierre Garrouste. 1999. "Towards an Austrian Theory of the Firm." Review of Austrian Economics 12: 43-64.

Ehret, Michael. 2005. "Business Networks and the Arbitrage of Property Rights: New Perspectives for the Theory of the Firm." Working paper, Institute for Marketing, Freie Universitat Berlin.

Ellig, Jerry. 1996. "Organizational Economics and the Market-Based Management Framework: Toward a Common Research Agenda." Journal of Private Enterprise 12:1.

Ellig, Jerry. 1997. "From Austrian Economics to Market-Based Management." Journal of Private Enterprise 13 (Special Issue): 133-46.

Ellig, Jerry, and Wayne Gable. 1993. Introduction to Market-Based Management. Fairfax, Va.: Center for Market Processes.

Foss, Kirsten and Nicolai Foss. 2000. "Economic Organization in a Process Perspective: an Explorative Discussion." In Jackie Krafft, ed. The Process of Competition. Aldershot: Edward Elgar.

Foss, Kirsten and Nicolai Foss. 2002. "Organizing Economic Experiments: Property Rights and Firm Organization." Review of Austrian Economics 15: 297-312.

Foss, Kirsten and Nicolai Foss. 2002. "Coase vs Hayek: Economic Organization in the Knowledge Economy." International Journal of the Economics of Business 9: 9-36.

Foss, Kirsten and Nicolai Foss. 2005. "The Limits to Designed Orders: Authority under "Distributed Knowledge." Review of Austrian Economics.

Foss, Kirsten, Nicolai J. Foss, and Peter G. Klein. 2007. "Original and Derived Judgment: An Entrepreneurial Theory of Economic Organization." Organization Studies 28, no. 12 (June 2007): 1893-1912.

Foss, Kirsten, Nicolai J. Foss, Peter G. Klein, and Sandra K. Klein. 2002. "Heterogeneous Capital, Entrepreneurship, and Economic Organization." Journal des Economistes et des Etudes Humaines 12, no. 1: 79-96.

Foss, Kirsten, Nicolai J. Foss, Peter G. Klein, and Sandra K. Klein. 2007. "The Entrepreneurial Organization of Heterogeneous Capital." Journal of Management Studies 44, no. 7: 1165–86.

Foss, Nicolai J. 1993. "More on Knight and the Theory of the Firm." Managerial and Decision Economics 14: 269-76.

Foss, Nicolai J. 1994. "The Theory of the Firm: The Austrians as Precursors and Critics of Contemporary Theory." Review of Austrian Economics 7: 31-64.

Foss, Nicolai J. 1997 "Austrian Insights and the Theory of the Firm." Advances in Austrian Economics 4: 175-98.

Foss, Nicolai J. 1999. "The Use of Knowledge in Firms." Journal of Institutional and Theoretical Economics 155: 458-86.

Foss, Nicolai J. 2001. "Misesian Ownership and Coasian Authority in Hayekian Settings: The Case of the Knowledge Economy." Quarterly Journal of Austrian Economics 4, no. 4: 3-24.

Foss, Nicolai and Jens Frřslev Christensen. 2001. "A Market Process Approach to Corporate Coherence." Managerial and Decision Economics 22: 213-26.

Foss, Nicolai J., and Peter G. Klein, eds. 2002. Entrepreneurship and the Firm: Austrian Perspectives on Economic Organization. Aldershott, U.K.: Edward Elgar.

Foss, Nicolai J., and Peter G. Klein. 2005. "Entrepreneurship and the Economic Theory of the Firm: Any Gains from Trade?" In Rajshree Agarwal, Sharon A. Alvarez, and Olav Sorenson, eds., Handbook of Entrepreneurship: Disciplinary Perspectives. Norwell, Mass: Kluwer.

Foss, Nicolai J., and Ibuki Ishikawa. 2006. "Towards a Dynamic Resource-based View." To appear (in a slightly revised version) in Organization Studies.

Ghoshal, Sumantra, Peter Moran and Luis Almeida-Costa. 1995. "The Essence of the Megacorporation: Shared Context, not Structural Hierarchy." Journal of Institutional and Theoretical Economics 151: 748-59.

Ionnanides, Stavros. 1999. "Towards an Austrian Perspective on the Firm." Review of Austrian Economics 11: 77-98.

Jensen, Michael C. and William H. Meckling. 1992. "Specific and General Knowledge and Organizational Structure." In Lars Werin and Hans Wijkander, eds., Contract Economics. Oxford: Blackwell.

Klein, Peter G. 1996. "Economic Calculation and the Limits of Organization." Review of Austrian Economics 9: 3-28.

Klein, Peter G. 1999. "Entrepreneurship and Corporate Governance." Quarterly Journal of Austrian Economics 2: 19-42.

Klein, Peter G. 2008. "Opportunity Discovery, Entrepreneurial Action, and Economic Organization." Strategic Entrepreneurship Journal 2, no. 3: 175-90.

Klein, Peter and Sandra Klein. 2001. "Do Entrepreneurs Make Predictable Mistakes? Evidence from Corporate Divestitures." Quarterly Journal of Austrian Economics 4:3-25.

Langlois, Richard N. 1992. "Orders and Organizations: Toward an Austrian Theory of Social Institutions." In Bruce Caldwell and Stephan Boehm, eds. 1992. Austrian Economics: Tensions and New Directions. Boston: Kluwer.

Langlois, Richard N. 1995. "Do Firms Plan?" Constitutional Political Economy 6: 247-61.

Langlois, Richard N. 2002. "Kirznerian Entrepreneurship and the Nature of the Firm." Journal des Economistes et des Etudes Humaines 12, no. 1.

Lewin, Peter. 1998. "The Firm, Money and Economic Calculation: Considering the Institutional Nexus of Market Production." American Journal of Economics and Sociology 57, no. 4: 499-512.

Lewin, Peter, and Steven Phelan. 1999. "Firms, Strategies, and Resources." Quarterly Journal of Austrian Economics 2, no. 2: 1-18.

Lewin, Peter, and Steven Phelan. 2000. An Austrian Theory of the Firm." Review of Austrian Economics 13: 59-79.

Malmgren, Harold B. 1961. "Information, Expectations, and the Theory of the Firm." Quarterly Journal of Economics 75: 399-421.

Matthews, Don. 1998. "Management versus the Market: An Exaggerated Distinction." Quarterly Journal of Austrian Economics 1: 41-46.

Minkler, Alanson P. 1993a. "The Problem With Dispersed Knowledge: Firms in Theory and Practice." Kyklos 46: 569-87.

Minkler, Alanson P. 1993b. "Knowledge and Internal Organization." Journal of Economic Behavior and Organization 21: 17-30.

Ng, Desmond. 2005. “The Discovery of and Coordination of Resource Complements in a Dispersed Knowledge Society.” International Journal of Human Resources Development and Management 5, no. 2: 142-63.

Pongracic, Ivan, Jr. 2009. Employees and Entrepreneurship: Co-Ordination and Spontaneity in Non-Hierarchical Business Organization. Aldershott, UK: Edward Elgar.

Sautet, Frédéric. 2000. An Entrepreneurial Theory of the Firm. London: Routledge.

Taylor, Thomas C. 2000. "Current Developments in Cost Accounting and the Dynamics of Economic Calculation." Quarterly Journal of Austrian Economics 3, no 2: 3-29.

Tsoukas, H. 1996. "The firm as a distributed knowledge system: A constructionist approach." Strategic Management Journal 17: 11-25.

Tullock, Gordon. 1969. "The New Theory of Corporations." In Erich Streissler, ed., Roads to Freedom: Essays in Honour of Friedrich A. von Hayek. London: Routledge & Kegan Paul.

Vihanto, Martti. 1992. "Contracting Costs and Entrepreneurial Discovery." Finnish Journal of Business Economics 41, no 4: 353-70.

Walsh, Aidan. 2009. "A Mengerian Theory of the Origins of the Business Firm." Studies in Emergent Order 2: 54-75

Witt, Ulrich. 1999. "Do Entrepreneurs Need Firms? A Contribution to a Missing Chapter in Austrian Economics." Review of Austrian Economics 11: 99-110.

Young, Greg, Ken G Smith and Curtis M Grimm. 1996. "'Austrian' and Industrial Organization Perspectives on Firm-level Competitive Activity and Performance." Organization Science 7: 243-54.

Yu, Tony. 1999. "Toward a Praxeological Theory of the Firm." Review of Austrian Economics 12: 25-41.



Austrian economics and strategic management

Agarwal, Rajshree, Jay Barney, Nicolai Foss, and Peter G. Klein. 2009. "Heterogeneous Resources and the Financial Crisis: Implications of Strategic Management Theory," Strategic Organization 7, no. 4: 467-84.

Black, Janice A. 2003. "From End-State Fit to Fitting Dynamics: Implications for Organizational Studies." Journal of Business Strategies 20, no. 2: 157-

Chiles, T. H. 2003. "Process Theorizing: Too Important to Ignore in a Kaleidic World. Academy of Management Learning & Education 2(3): 288-91.

Dagnino, Giovanni Battista. 2003. "Bridging the Strategy Gap: Firm Strategy and Coevolution of Capability Space and Opportunity Space." University of Pennsylvania, Sol C. Snider Entrepreneurial Research Center Paper No. 306/2003.

Foss, Nicolai J. and Volker Mahnke. 2000. "Strategy and the Market Process Perspective." In Jackie Krafft, ed. The Process of Competition. Aldershot: Edward Elgar.

Foss, Nicolai and Jens Frřslev Christensen. 2001. "A Market Process Approach to Corporate Coherence." Managerial and Decision Economics 22: 213-26.

Hill, Charles W. L., and David L. Deeds. 1996. "The Importance of Industry Structure for the Determination of Firm Profitability: A Neo-Austrian Perspective." Journal of Management Studies 33, no. 4: 429-51.

Jacobson, Robert. 1992. "The 'Austrian' School of Strategy." Academy of Management Review 17: 782-807.

Langlois, Richard N., "Strategy and the Market Process: Introduction to the Special Issue," Managerial and Decision Economics 22: 163-68 (2001), special issue on "Strategy and the Market Process" (R. N. Langlois, guest editor).

Lewin, Peter, and Steven Phelan. 1999. "Firms, Strategies, and Resources: Contributions from Austrian Economics." Quarterly Journal of Austrian Economics 2, no. 2: 1-18.

Mathews, John A. 2006. "Ricardian Rents or Knightian Profits? More on Austrian Insights on Strategic Organization." Strategic Organization 4: 97-108.

Matthews, John A. 2006. "Rents vs. Profits: What are the Appropriate Goals of Strategizing?" Working paper.

Mathews, John A. 2006. Strategizing, Disequilibrium and Profit. Stanford: Stanford University Press.

Ng, Desmond. 2005. “Strategic Entrepreneurship: An Austrian Economic Approach to Competitive Strategy.” Journal of International Business Strategy 1, no. 2: 75-84.

Roberts, Peter W., and K. M. Eisenhardt. 2003. "Austrian Insights on Strategic Organization: From Market Insights to Implications for Firms." Strategic Organization 1: 345-52.

Robertson, Paul L., and Tony F. Yu. 2001. "Firm Strategy, Innovation and Consumer Demand: A Market Process Approach." Managerial and Decision Economics 22, no. 4-5: 183-99.

Westgren, Randall E. 1995. "Firm Resources, Industrial Organization, and Austrian Economics: The Bases for a New Strategic Management Approach to Competitiveness." In G.H.. Peters and Douglas D. Hedley, eds. Agricultural Competitiveness: Market Forces and Policy Choice: Proceedings of the Twenty-Second International Conference of Agricultural Economists. Aldershot, U.K.: Dartmouth.

Yu, Tony Fu-Lai. 2003. "A Subjectivist Approach to Strategic Management." Managerial and Decision Economics 24, no. 4: 335-45.