Fritz Rahmeyer
From a Routine-Based to a Knowledge-Based View: Towards an Evolutionary Theory of the Firm
Abstract:
Evolutionary
economics in the initial version of Nelson and Winter is concentrated
on the analysis of the evolution of industries and markets and in that
entrepreneurial innovation activities. But a theory of the firm beneath
the level of the industry is not taken into account to a large extent.
In order to widen its fundamental principles a resource-based, and as
its extension, a knowledge-based view of the firm, both originated in
the field of Business Strategy, are seen as promising candidates to
close this gap within evolutionary economics. Industry dynamics as the
evolution of a population of firms in this way is supplemented by a
more detailed characterization of the internal structure of individual
firms. It is the fundamental question with regard to the adequacy of an
evolutionary interpretation of firm behaviour and development as to
what extend a firm and its individual activities are considered to be
capable of purposefully and actively influencing its environment, on
the one hand, and are blindly selected by environmental pressure, on
the other hand. In this way firms become intendedly heterogenous
concerning market performance and organizational structure. Regarding
the general topic of a theory of the firm, a unified approach will not
be constructed, but more likely a hybrid one being composed of
technological, institutional and efficiency-based elements.
JEL: B 52; D 21; D 83; L 23
Paper:
Paper available as pdf-file.
Beitrag Nr. 283, Volkswirtschaftliche Diskussionsreihe, Institut
für
Volkswirtschaftslehre der Universität Augsburg
Contact:
Fritz Rahmeyer,
University of Augsburg, Department of Economics, D-86135
Augsburg,
Germany, phone +49-821-598-4203, fax +49-821-598-4230,
E-mail: fritz.rahmeyer@wiwi.uni-augsburg.de
v.
K., 03.05.2006