Browsing DRUID Working papers by Author "Foss, Nicolai J."
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The Bridging Work of George RichardsonFoss, Nicolai J. (Frederiksberg, 1996)[More information][Less information]
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A Prelimenary Methodological StocktakingFoss, Nicolai J. (Frederiksberg, 1998)[More information][Less information]
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Foss, Kirsten; Foss, Nicolai J. (København, 2003)[More information][Less information]
Abstract: The notion of distributed knowledge is increasingly often invoked in discussions of economic organization. In particular, the claim that authority is inefficient as a means of coordination in the context of distributed knowledge has become widespread. However, very little analysis has been dedicated to the relation between economic organization and distributed knowledge. In this paper, we concentrate on the role of authority as a coordination mechanism under conditions of distributed knowledge, and also briefly discuss other issues of economic organization. We clarify the meanings of authority and distributed knowledge, and criticize the above claim by arguing that authority may be a superior mechanism of coordination under distributed knowledge. We also discuss how distributed knowledge influences the boundaries of firms. Our arguments rely on insights in problem-solving and on ideas from organizational economics. URI: http://hdl.handle.net/10398/6894 Files in this item: 1
03-08.pdf (330.4Kb) -
Present Use and (Some)Future PossibilitiesFoss, Nicolai J. (Frederiksberg, 2001)[More information][Less information]
Abstract: The way in which bounded rationality enters contemporary organizational economics theorizing is examined. It is argued that, as it is being used, bounded rationality is neither necessary nor sufficient for producing the results of organizational economics. It is at best a rhetorical device, used for the purpose of loosely explaining incomplete contracts. However, it is possible to incorporate much richer notions of bounded rationality, founded on research in cognitive psychology, and to illuminate the study of economic organization by means of such notions. A number of examples are provided. URI: http://hdl.handle.net/10398/7896 Files in this item: 1
DRUID_01_13.pdf (127.4Kb) -
Abell, Peter; Felin, Teppo; Foss, Nicolai J. (Frederiksberg, 2007)[More information][Less information]
Abstract: Micro-foundations have become an important emerging theme in strategic management. This paper addresses micro-foundations in two related ways. First, we argue that the kind of macro (or “collectivist”) explanation that is utilized in the capabilities view in strategic management - which implies a neglect of micro-foundations in two related ways. First, we argue that the kind of macro (or "collectivist") explanation that is utilized in the capabilities view in strategic management - which implies a neglect of micro-foundations - is incomplete. There are no mechanisms that work solely on the macro-level, directly connecting routines and capabilities to firm-level outcomes. While routines and capabilities are useful shorthand for complicated patterns of individual action and interaction, ultimately they are best understood at the micro-level. Second, we provide a formal model that shows precisely why macro explanation is incomplete and which exemplifies how explicit micro-foundations may be built for notions of routines and capabilities and for how these impact firm performance. URI: http://hdl.handle.net/10398/7873 Files in this item: 1
DRUID_07_02.pdf (252.6Kb) -
The Rebirth of Production in the Theory of Economic OrganizationFoss, Nicolai J.; Langlois, Richard N. (Frederiksberg, 1997)[More information][Less information]
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Foss, Nicolai J. (Frederiksberg, 1996)[More information][Less information]
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On Some Problems in Recent ResearchOn Inter-firm RelationsFoss, Nicolai J. (Frederiksberg, 1999)[More information][Less information]
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Some Cross-Country EvidenceBjørnskov, Christian; Foss, Nicolai J. (Frederiksberg, 2006)[More information][Less information]
Abstract: While much attention has been devoted to analyzing how the institutional framework and entrepreneurship impact growth, how economic policy and institutional design affect entrepreneurship appears to be much less analyzed. We try to explain cross-country differences in the level of entrepreneurship by differences in economic policy and institutional design. Specifically, we use measures of economic freedom from the Economic Freedom of the World database to examine which elements of economic policy making and the institutional framework are responsible for the supply of entrepreneurship Our data on entrepreneurship are derived from the Global Entrepreneurship Monitor. The combination of these two datasets is unique in the literature. We find that the size of government is negatively correlated with entrepreneurial activity but that sound money is positively correlated with entrepreneurial activity. Other measures of economic freedom are not significantly correlated with entrepreneurship. URI: http://hdl.handle.net/10398/7876 Files in this item: 1
DRUID_06_18.pdf (261.1Kb) -
Some Austrian InsightsFoss, Nicolai J. (Frederiksberg, 2001)[More information][Less information]
Abstract: I critically discuss recent claims about economic organization in the emerging “knowledge economy,” specifically that authority relations will tend to disappear (or at least become radically transformed), the boundaries of the firm will blur, and coordination mechanisms will be much more malleable than assumed in organizational economics, resulting in various “new organizational forms.” In particular, the price mechanism will be used inside hierarchies to a much greater extent. In order to obtain an analytical focus on the knowledge economy, I assume that it may be approximated by “Hayekian settings” (after Hayek 1945), that is, settings in which knowledge is distributed and where knowledge inputs are relatively more important in production than physical capital inputs. I then argue, drawing on organizational economics as well as Mises’ insights in property rights and comparative systems, that the presence of Hayekian settings does not mean that authority will disappear, etc., although economic organization will in fact be affected by the emergence of the knowledge economy. This suggests that Austrian economics has an important contribution to make to the study of economic organization. URI: http://hdl.handle.net/10398/7899 Files in this item: 1
DRUID_01_07.pdf (99.18Kb) -
Challenges and CharacteristicsFoss, Nicolai J. (Frederiksberg, 2006)[More information][Less information]
Abstract: The “knowledge governance approach” is characterized as a distinctive, emerging approach that cuts across the fields of knowledge management, organisation studies, strategy, and human resource management. Knowledge governance is taken up with how the deployment of governance mechanisms influences knowledge processes, such as sharing, retaining and creating knowledge. It insists on clear micro (behavioural) foundations, adopts an economizing perspective, and examines the links between knowledge-based units of analysis with diverse characteristics and governance mechanisms with diverse capabilities of handling these transactions. Research issues that the knowledge governance approach illuminates are sketched. URI: http://hdl.handle.net/10398/7880 Files in this item: 1
DRUID_06_10.pdf (170.2Kb) -
Any Gains from TradeFoss, Nicolai J.; Klein, Peter G. (København, 2004)[More information][Less information]
Abstract: Although they have developed very much in isolation from each other, we argue the theory of entrepreneurship and the economic theory of the firm are closely related, and each has much to learn from the other. In particular, the notion of entrepreneurship as judgment associated with Frank Knight and some Austrian school economists aligns naturally with the theory of the firm. In this perspective, the entrepreneur needs a firm, that is, a set of alienable assets he controls, to carry out his function. We further show how this notion of judgment adds to the key themes in the modern theory of the firm (i.e., the existence, boundaries, and internal organization). In our approach, resource uses are not data, but are created as entrepreneurs envision new ways of using assets to produce goods. The entrepreneur’s decision problem is aggravated by the fact that capital assets are heterogeneous. Asset ownership facilitates experimenting entrepreneurship: Acquiring a bundle of property rights is a low cost means of carrying out commercial experimentation. In this approach, the existence of the firm may be understood in terms of limits to the market for judgment relating to novel uses of heterogeneous assets; and the boundaries of the firm, as well as aspects of internal organization, may be understood as being responsive to entrepreneurial processes of experimentation. Key words: Entrepreneurship, heterogeneous assets, judgment, ownership, firm boundaries, internal organization. JEL Codes: B53, D23, L2 URI: http://hdl.handle.net/10398/6429 Files in this item: 1
04-12.pdf (343.6Kb) -
The Conflicting Legacies of Demsetz and PenroseFoss, Nicolai J. (Frederiksberg, 1997)[More information][Less information]
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Some Austrian InsightsFoss, Nicolai J. (Frederiksberg, 1998)[More information][Less information]
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Foss, Nicolai J. (Frederiksberg, 1996)[More information][Less information]
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Thoughts on a Micro-Foundations Project for Strategic Management and Organizational AnalysisFelin, Teppo; Foss, Nicolai J. (København, 2006)[More information][Less information]
Abstract: Making links between micro and macro levels has been problematic in the social sciences, and the literature in strategic management and organization theory is no exception The purpose of this chapter is to raise theoretical issues in developing micro-foundations for strategic management and organizational analysis We discuss more general problems with collectivism in the social sciences by focusing on specific problems in extant organizational analysis We introduce microfoundations to the literature by explicating the underlying theoretical foundations of the origins of individual action and interaction We highlight opportunities for future research, specifically emphasizing the need for a rational choice program in management research. URI: http://hdl.handle.net/10398/7470 Files in this item: 1
cbs forskningsindberetning smg 39.pdf (4.296Mb) -
Brian Loasby and The Theory of The FirmFoss, Nicolai J. (Frederiksberg, 1997)[More information][Less information]
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what can organizational economics contribute?Foss, Nicolai J.; Mahnke, Volker (København, 2003)[More information][Less information]
Abstract: Knowledge management has emerged as a very successful organization practice and has been extensively treated in a large body of academic work. Surprisingly, however, organizational economics (i.e., transaction cost economics, agency theory, team theory and property rights theory) has played no role in the development of knowledge management. We argue that organizational economics insights can further the theory and practice of knowledge management in several ways. Specifically, we apply notions of contracting, team production, complementaries, hold-up, etc. to knowledge management issues (i.e., creating and integration knowledge, rewarding knowledge workers, etc.) , and derive refutable implications that are novel to the knowledge management field from our discussion. URI: http://hdl.handle.net/10398/6863 Files in this item: 1
03-02.pdf (480.3Kb) -
What Can Organizational Economics Contribute?Foss, Nicolai J.; Mahnke, Volker (Frederiksberg, 2003)[More information][Less information]
Abstract: Knowledge management has emerged as a very successful organization practice and has been extensively treated in a large body of academic work. Surprisingly, however, organizational economics (i.e., transaction cost economics, agency theory, team theory and property rights theory) has played no role in the development of knowledge management. We argue that organizational economics insights can further the theory and practice of knowledge management in several ways. Specifically, we apply notions of contracting, team production, complementaries, hold-up, etc. to knowledge management issues (i.e., creating and integration knowledge, rewarding knowledge workers, etc.) , and derive refutable implications that are novel to the knowledge management field from our discussion. URI: http://hdl.handle.net/10398/7892 Files in this item: 1
DRUID_03_02.pdf (480.3Kb) -
Toward a Dynamic Property Rights PerspectiveFoss, Nicolai J.; Foss, Kirsten (Frederiksberg, 1998)[More information][Less information]
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