Titlebook: Economic Microfoundations of Strategic Management; The Property Rights Kirsten Foss,Nicolai J. Foss Book 2022 The Editor(s) (if applicable

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Strategizing and Positioning, industrial organization economics. These ideas implicitly make assumptions about the costs of contracting. Explicitly taking property right and transaction costs into account reveals new ways of maneuvering in the market place.

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The Theory of the Firm: Specialization and Learning,ise and property rights need to be re-allocated. The firm is a low-cost mechanism for doing this. Thus, Coase’s analysis of the firm can be linked to the division of labor by means of the property rights lens.

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https://doi.org/10.1057/9781137414328In their 1972 review article, Furubotn and Pejovich (., 10: 1137–1162, 1972) argued that “… property rights analysis does offer a fresh and useful way of looking at economic problems. Substantial advances have already been achieved and the literature gives evidence of continuing vitality and promise of future accomplishment.”

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Microfoundations for Strategy,Putting property rights economics into strategy theory is consistent with the heavy emphasis on microfoundations in strategy research over the last decade. Property rights economics is explicitly micro in its analytic focus as it places human decision-making and control over resources center stage in the analysis.

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Conclusions,In their 1972 review article, Furubotn and Pejovich (., 10: 1137–1162, 1972) argued that “… property rights analysis does offer a fresh and useful way of looking at economic problems. Substantial advances have already been achieved and the literature gives evidence of continuing vitality and promise of future accomplishment.”

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