The Knowledge-Based Approach: An Organizational Economics Perspective
AbstractProponents of the emerging knowledge-based (resource-based, competence-based, etc.) theory of the firm have subjected more traditional economics of organization theories to strong critiques. Rather than directly answering this critique, we examine key ideas of the knowledge-based approach, and argue that these are not necessarily in conflict with basic ideas from organizational economics (particularly ideas relating to the property rights approach), but are either complementary to or consistent with these. In fact, property rights economics and other organizational economics ideas may at least to some extent constitute a much needed micro-foundation for the knowledge-based perspective. The purpose of this exercise is 1) to facilitate dialogue, 2) to dispel false claims of insurmountable differences between the two approaches, and 3) to establish what is genuinely different in the knowledge-based approach.
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Bibliographic InfoPaper provided by Department of Industrial Economics and Strategy, Copenhagen Business School in its series IVS/CBS Working Papers with number 98-5.
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economic organization; firm knowledge; governance;
Find related papers by JEL classification:
- M21 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics - - - Business Economics
- B49 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Other
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-04-16 (All new papers)
- NEP-CBE-2005-04-16 (Cognitive & Behavioural Economics)
- NEP-HPE-2005-04-16 (History & Philosophy of Economics)
- NEP-TID-2005-04-16 (Technology & Industrial Dynamics)
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- Achleitner, Ann-Kristin & Fingerle, Christian H., 2004. "What you get is what you need? The role of venture capitalists in managing growth of new ventures," CEFS Working Paper Series 2004-05, Center for Entrepreneurial and Financial Studies (CEFS), Technische Universität München.
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