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Organizing Economic Experiments: Property Rights and Firm Organization

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  • Foss, Kirsten
  • Foss, Nicolai J

Abstract

Many economists, notably Austrian economists, have argued that the market process is essentially an experimental process. We briefly try to clarify this conceptualization, and then argue that we may understand the firm in much the same light. A basic view of the firm as an experimental entity is derived, drawing on property rights insights. Copyright 2002 by Kluwer Academic Publishers

Suggested Citation

  • Foss, Kirsten & Foss, Nicolai J, 2002. "Organizing Economic Experiments: Property Rights and Firm Organization," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 15(4), pages 297-312, December.
  • Handle: RePEc:kap:revaec:v:15:y:2002:i:4:p:297-312
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    Cited by:

    1. Peter Maskell & Mark Lorenzen, 2003. "The Cluster as Market Organization," DRUID Working Papers 03-14, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
    2. Menno Van der Veen & Willem Korthals Altes, 2005. "Strategic city projects, legal systems and professional effectiveness," ERSA conference papers ersa05p365, European Regional Science Association.
    3. repec:eee:rujoec:v:2:y:2016:i:1:p:86-110 is not listed on IDEAS
    4. Peter G. Klein, 2010. "Vertical Integration," Chapters,in: The Elgar Companion to Transaction Cost Economics, chapter 17 Edward Elgar Publishing.

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