Incentive-Based and Knowledge-Based Theories of the Firm: Some Recent Developments
AbstractThis article presents a critical review of advances in incentive-based and knowledgebased theories of the firm. In particular, we address some developments in the incentive-based approach regarding relational contracts and contracts as “reference points”. As far as the evolution of knowledge-based theories is concerned, we focus on the interesting implications of the concept of dynamic capabilities. Finally, we investigate some recent attempts to bridge these two main streams of research, which have for a long time been regarded as rival rather than complementary.
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Bibliographic InfoPaper provided by Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy in its series Discussion Papers with number 2010/98.
Date of creation: 18 Jan 2010
Date of revision:
Theory of the firm; contracts; incentives; knowledge; competencies.;
Other versions of this item:
- Nicola Meccheri & Mario Morroni, 2010. "Incentive-based and knowledge-based theories of the firm: some recent developments," ECONOMIA E POLITICA INDUSTRIALE, FrancoAngeli Editore, vol. 2010(3), pages 69-91.
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-08-06 (All new papers)
- NEP-BEC-2010-08-06 (Business Economics)
- NEP-CSE-2010-08-06 (Economics of Strategic Management)
- NEP-KNM-2010-08-06 (Knowledge Management & Knowledge Economy)
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