CONTRACTS, ENTREPRENEURS, MARKET CREATION AND JUDGEMENT: THE CONTEMPORARY MAINSTREAM THEORY OF THE FIRM IN PERSPECTIVE

摘要

This survey gives an overview of the theory of the firm as it is formulated within the contemporary mainstream' of economics. Two groupings of theories are briefly discussed: principal-agent and incomplete contract models. Next, three of the most recent contributions regarding firms are considered. The reference point approach is looked at first followed by a discussion of Spulber's book The Theory of the Firm. Last, we consider the entrepreneurial judgement perspective.