The theory of the firm : microeconomics with endogenous entrepreneurs, firms, markets, and organizations /
Daniel F. Spulber.
- Cambridge ; New York : Cambridge University Press, 2009.
- xiii, 529 p. : ill. b&w ; 26 cm.
Includes bibliographical references and index.
Introduction -- Pt. 1. The theory of the firm -- Ch. 1. The Consumer -- Ch. 2. The Firm -- Ch. 3. Separation of Consumer Objectives and Firm Objectives -- Pt. 2. The entrepreneur in equilibrium -- Ch. 4. The Entrepreneur -- Ch. 5. Competition between Entrepreneurs -- Pt. 3. Human capital, financial capital, and the organization of the firm -- Ch. 6. Human Capital and the Organization of the Firm -- Ch. 7. Financial Capital and the Organization of the Firm -- Pt. 4. Intermediation by the firm -- Ch. 8. The Firm as Intermediary in the Pure Exchange Economy -- Ch. 9. The Firm versus Free Riding -- Pt. 5. Market making by the firm -- Ch. 10. The Firm Creates -- Ch. 11. The Firm in the Market for Contracts -- Ch. 12. Conclusion.
The Theory of the Firm presents a path-breaking general framework for understanding the economics of the firm. The book addresses why firms exist, how firms are established, and what contributions firms make to the economy. The book presents a new theoretical analysis of the foundations of microeconomics that makes institutions endogenous. Entrepreneurs play a central economic role by establishing firms. In turn, firms create and operate markets and organizations. The book provides innovative models of economic equilibrium that endogenously determine the structure and function of economic institutions. The book proposes an 'intermediation hypothesis' - the establishment of firms depends on the effects of transaction costs and on the extent of the market.