Working Paper Series, Department of Industrial Economics & Strategy, Copenhagen Business School
Nicolai J. Foss
On the Relations Between Evolutionary and Contractual Theories of the Firm.
Abstract: It has recently been argued by a number of writers that
the evolutionary theory of the firm is a genuine theoretical rival to the
contractual theory of the firm. This paper presents a reconstruction of the
evolutionary theory of the firm. A taxonomy developed by the Polish
philosopher Krajewski is then utilized for the purpose of the discussing
the relations between the evolutionary and the contractual theory of the
firm. It is possible to argue that the evolutionary and the contractual
theories of the firm are rivals. However, it is also possible to argue that
they have complementary areas of research, some of which are briefly
described in the paper.
Keywords: theoretical rivals; economic organization; (follow links to similar papers)
JEL-Codes: B4; L22; B49; (follow links to similar papers)
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